The Kraft Heinz Company (NASDAQ:KHC) Position Raised by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 97.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 44,873 shares of the company’s stock after acquiring an additional 22,203 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Kraft Heinz were worth $1,659,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in shares of Kraft Heinz during the fourth quarter valued at about $13,417,000. Prestige Wealth Management Group LLC grew its holdings in Kraft Heinz by 179.9% during the fourth quarter. Prestige Wealth Management Group LLC now owns 11,035 shares of the company’s stock worth $408,000 after acquiring an additional 7,092 shares during the period. Sheaff Brock Investment Advisors LLC grew its holdings in Kraft Heinz by 3.1% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 22,196 shares of the company’s stock worth $821,000 after acquiring an additional 672 shares during the period. Kentucky Retirement Systems Insurance Trust Fund grew its holdings in Kraft Heinz by 2.2% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 28,403 shares of the company’s stock worth $1,050,000 after acquiring an additional 604 shares during the period. Finally, Kentucky Retirement Systems grew its holdings in Kraft Heinz by 2.4% during the fourth quarter. Kentucky Retirement Systems now owns 63,789 shares of the company’s stock worth $2,359,000 after acquiring an additional 1,525 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Up 0.4 %

Shares of Kraft Heinz stock opened at $35.92 on Wednesday. The firm has a market cap of $43.62 billion, a price-to-earnings ratio of 15.69, a P/E/G ratio of 2.87 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $39.34. The stock has a 50-day simple moving average of $36.54 and a 200-day simple moving average of $36.16.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 EPS. On average, equities research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.60 annualized dividend and a yield of 4.45%. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on KHC. Bank of America lifted their target price on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft lifted their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Piper Sandler raised Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price target on the stock in a research note on Wednesday. Wells Fargo & Company dropped their price target on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 15th. Finally, Citigroup initiated coverage on Kraft Heinz in a research note on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $40.08.

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.