Cullinan Associates Inc. Has $510,000 Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Mar 21st, 2023

Cullinan Associates Inc. boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 47.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,525 shares of the company’s stock after purchasing an additional 4,053 shares during the quarter. Cullinan Associates Inc.’s holdings in Kraft Heinz were worth $510,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. BlackRock Inc. raised its stake in shares of Kraft Heinz by 25.3% in the 3rd quarter. BlackRock Inc. now owns 56,572,464 shares of the company’s stock valued at $1,886,694,000 after buying an additional 11,428,520 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Kraft Heinz by 15.3% in the 3rd quarter. Vanguard Group Inc. now owns 67,502,147 shares of the company’s stock valued at $2,251,197,000 after buying an additional 8,948,708 shares in the last quarter. Capital World Investors raised its stake in shares of Kraft Heinz by 96.5% in the 1st quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock valued at $524,360,000 after buying an additional 6,537,000 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Kraft Heinz by 301.2% in the 3rd quarter. Nuveen Asset Management LLC now owns 6,416,759 shares of the company’s stock worth $213,999,000 after purchasing an additional 4,817,233 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Kraft Heinz by 8.2% in the 3rd quarter. State Street Corp now owns 36,736,098 shares of the company’s stock worth $1,225,149,000 after purchasing an additional 2,789,561 shares during the last quarter. 68.80% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $37.94 on Tuesday. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 1 year low of $32.73 and a 1 year high of $44.87. The company has a market cap of $46.48 billion, a PE ratio of 19.86, a PEG ratio of 3.40 and a beta of 0.70. The company’s 50-day moving average is $39.70 and its two-hundred day moving average is $38.32.

Kraft Heinz (NASDAQ:KHC – Get Rating) last released its earnings results on Wednesday, February 15th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Kraft Heinz had a net margin of 8.92% and a return on equity of 7.03%. The company had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same period in the prior year, the company posted $0.79 EPS. The company’s revenue was up 10.0% compared to the same quarter last year. Equities analysts anticipate that The Kraft Heinz Company will post 2.72 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, March 9th. This represents a $1.60 dividend on an annualized basis and a yield of 4.22%. Kraft Heinz’s payout ratio is presently 83.77%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of Kraft Heinz in a report on Thursday, March 16th. They issued a “hold” rating on the stock. Morgan Stanley upped their target price on shares of Kraft Heinz from $41.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, February 17th. Credit Suisse Group reaffirmed an “underperform” rating and issued a $38.00 target price (up previously from $36.00) on shares of Kraft Heinz in a report on Thursday, February 16th. Mizuho upped their target price on shares of Kraft Heinz from $48.00 to $50.00 in a report on Friday, January 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kraft Heinz from $49.00 to $46.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $42.67.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Melissa Werneck sold 3,500 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $42.39, for a total value of $148,365.00. Following the sale, the executive vice president now directly owns 266,583 shares in the company, valued at approximately $11,300,453.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Melissa Werneck sold 3,500 shares of the stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $42.39, for a total value of $148,365.00. Following the sale, the executive vice president now directly owns 266,583 shares in the company, valued at approximately $11,300,453.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Flavio Torres sold 250,571 shares of the stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $39.58, for a total transaction of $9,917,600.18. Following the completion of the sale, the executive vice president now owns 188,983 shares in the company, valued at $7,479,947.14. The disclosure for this sale can be found here. Corporate insiders own 1.40% of the company’s stock.

About Kraft Heinz

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The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015, and is headquartered in Pittsburgh, PA.