DNB Asset Management AS Has $5.75 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

DNB Asset Management AS increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 178,463 shares of the company’s stock after purchasing an additional 24,669 shares during the period. DNB Asset Management AS’s holdings in Kraft Heinz were worth $5,750,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Steward Partners Investment Solutions LLC acquired a new position in Kraft Heinz in the 4th quarter valued at approximately $25,000. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the 1st quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Kraft Heinz in the 4th quarter valued at approximately $32,000. Transcendent Capital Group LLC acquired a new position in Kraft Heinz in the 4th quarter valued at approximately $38,000. Finally, Janiczek Wealth Management LLC raised its holdings in Kraft Heinz by 409.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock valued at $44,000 after acquiring an additional 954 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on KHC shares. Evercore ISI cut their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Bank of America lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Barclays upped their price objective on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Wells Fargo & Company upped their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Piper Sandler lowered their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $37.58.

Kraft Heinz Stock Up 0.2 %

Shares of KHC opened at $34.88 on Wednesday. The firm has a market capitalization of $42.17 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 3.52 and a beta of 0.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01. The business’s fifty day moving average price is $33.33 and its two-hundred day moving average price is $35.25. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s quarterly revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.79 EPS. On average, analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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.