Canada Pension Plan Investment Board cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 3.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,774,768 shares of the company’s stock after selling 56,562 shares during the period. Canada Pension Plan Investment Board owned 0.15% of Kraft Heinz worth $65,489,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Kraft Heinz by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after purchasing an additional 183,234 shares during the period. Capital World Investors lifted its holdings in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after purchasing an additional 3,961,872 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kraft Heinz by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock worth $169,268,000 after purchasing an additional 137,169 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Kraft Heinz by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after purchasing an additional 474,758 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after purchasing an additional 1,027,636 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Kraft Heinz Trading Up 0.2 %
NASDAQ:KHC opened at $33.36 on Friday. The company has a market capitalization of $40.51 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 3.35 and a beta of 0.53. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The stock has a fifty day simple moving average of $33.46 and a 200-day simple moving average of $35.40.
Kraft Heinz Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.80%. The ex-dividend date was Thursday, June 6th. Kraft Heinz’s dividend payout ratio is presently 69.87%.
Wall Street Analysts Forecast Growth
KHC has been the subject of several recent research reports. Wells Fargo & Company decreased their price target on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Barclays reduced their target price on Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Deutsche Bank Aktiengesellschaft raised their target price on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Piper Sandler reduced their target price on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Finally, Bank of America reduced their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.83.
Get Our Latest Research Report on KHC
Insider Buying and Selling
In related news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is currently owned by company insiders.
Kraft Heinz Profile
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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