Nordea Investment Management AB raised its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,813,268 shares of the company's stock after buying an additional 1,238,200 shares during the quarter. Nordea Investment Management AB owned about 0.73% of Kraft Heinz worth $269,906,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in Kraft Heinz by 4.4% in the 2nd quarter. Van ECK Associates Corp now owns 38,559 shares of the company's stock valued at $1,242,000 after acquiring an additional 1,626 shares in the last quarter. TD Asset Management Inc boosted its holdings in Kraft Heinz by 4.2% during the second quarter. TD Asset Management Inc now owns 351,158 shares of the company's stock worth $11,314,000 after purchasing an additional 14,100 shares during the last quarter. Arizona State Retirement System grew its position in Kraft Heinz by 7.1% in the second quarter. Arizona State Retirement System now owns 263,763 shares of the company's stock valued at $8,498,000 after purchasing an additional 17,381 shares in the last quarter. Candriam S.C.A. increased its stake in Kraft Heinz by 9.7% in the 2nd quarter. Candriam S.C.A. now owns 93,544 shares of the company's stock valued at $3,014,000 after buying an additional 8,301 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Kraft Heinz by 520.8% during the 2nd quarter. Los Angeles Capital Management LLC now owns 35,216 shares of the company's stock worth $1,135,000 after buying an additional 29,543 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.
Kraft Heinz Stock Performance
NASDAQ:KHC traded down $0.56 during mid-day trading on Monday, reaching $30.05. 10,830,512 shares of the company's stock were exchanged, compared to its average volume of 8,245,976. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The firm has a market capitalization of $36.34 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The Kraft Heinz Company has a one year low of $30.01 and a one year high of $38.96. The business's fifty day simple moving average is $31.69 and its two-hundred day simple moving average is $33.45.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.42 billion. During the same period in the previous year, the company posted $0.72 earnings per share. The firm's revenue for the quarter was down 2.8% compared to the same quarter last year. Analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.
Kraft Heinz Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz's dividend payout ratio (DPR) is presently 144.14%.
Analyst Ratings Changes
A number of analysts recently issued reports on the company. Piper Sandler reaffirmed a "neutral" rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. The Goldman Sachs Group dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and decreased their target price for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and dropped their price target for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Finally, Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Kraft Heinz has an average rating of "Hold" and an average price target of $36.55.
Check Out Our Latest Stock Analysis on Kraft Heinz
Insider Buying and Selling
In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares of the company's stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.
Kraft Heinz Profile
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Free Report)
The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.
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