Whittier Trust Co. of Nevada Inc. Raises Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Apr 7th, 2023

Whittier Trust Co. of Nevada Inc. increased its position in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,831 shares of the company’s stock after purchasing an additional 574 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Kraft Heinz were worth $197,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. grew its stake in Kraft Heinz by 7.9% in the third quarter. Daiwa Securities Group Inc. now owns 96,470 shares of the company’s stock worth $3,217,000 after purchasing an additional 7,093 shares during the period. Birmingham Capital Management Co. Inc. AL lifted its holdings in shares of Kraft Heinz by 1.6% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 58,790 shares of the company’s stock valued at $1,961,000 after purchasing an additional 910 shares in the last quarter. J.W. Cole Advisors Inc. lifted its holdings in shares of Kraft Heinz by 8.9% during the third quarter. J.W. Cole Advisors Inc. now owns 6,087 shares of the company’s stock valued at $203,000 after purchasing an additional 499 shares in the last quarter. Cabot Wealth Management Inc. lifted its holdings in shares of Kraft Heinz by 4.8% during the third quarter. Cabot Wealth Management Inc. now owns 138,525 shares of the company’s stock valued at $4,620,000 after purchasing an additional 6,344 shares in the last quarter. Finally, Echo Street Capital Management LLC lifted its holdings in shares of Kraft Heinz by 25.5% during the third quarter. Echo Street Capital Management LLC now owns 8,540 shares of the company’s stock valued at $285,000 after purchasing an additional 1,734 shares in the last quarter. 68.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on KHC. Deutsche Bank Aktiengesellschaft lowered their target price on Kraft Heinz from $49.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, March 20th. Piper Sandler increased their target price on Kraft Heinz from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, February 13th. Mizuho increased their target price on Kraft Heinz from $48.00 to $50.00 in a report on Friday, January 6th. UBS Group upped their price target on Kraft Heinz from $37.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, February 16th. Finally, Morgan Stanley upped their price target on Kraft Heinz from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $42.67.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $39.14 on Friday. The stock has a 50 day moving average of $39.02 and a 200 day moving average of $38.50. The Kraft Heinz Company has a 12 month low of $32.73 and a 12 month high of $44.87. The firm has a market cap of $48.02 billion, a PE ratio of 20.49, a PEG ratio of 3.52 and a beta of 0.69. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC – Get Rating) last announced its quarterly earnings results on Wednesday, February 15th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The company had revenue of $7.38 billion during the quarter, compared to analyst estimates of $7.23 billion. Kraft Heinz had a return on equity of 7.03% and a net margin of 8.92%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. On average, research analysts expect that The Kraft Heinz Company will post 2.71 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.09%. The ex-dividend date was Thursday, March 9th. Kraft Heinz’s payout ratio is 83.77%.

Kraft Heinz Company Profile

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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.