Kestra Advisory Services LLC increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,464 shares of the company’s stock after acquiring an additional 11,363 shares during the quarter. Kestra Advisory Services LLC’s holdings in Kraft Heinz were worth $3,357,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of KHC. Vanguard Group Inc. increased its stake in shares of Kraft Heinz by 15.3% in the third quarter. Vanguard Group Inc. now owns 67,502,147 shares of the company’s stock valued at $2,251,197,000 after purchasing an additional 8,948,708 shares during the period. BlackRock Inc. increased its stake in shares of Kraft Heinz by 25.3% in the third quarter. BlackRock Inc. now owns 56,572,464 shares of the company’s stock valued at $1,886,694,000 after purchasing an additional 11,428,520 shares during the period. State Street Corp increased its stake in shares of Kraft Heinz by 8.2% in the third quarter. State Street Corp now owns 36,736,098 shares of the company’s stock valued at $1,225,149,000 after purchasing an additional 2,789,561 shares during the period. Capital World Investors increased its stake in shares of Kraft Heinz by 96.5% in the first quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock valued at $524,360,000 after purchasing an additional 6,537,000 shares during the period. Finally, LSV Asset Management increased its stake in shares of Kraft Heinz by 1.0% in the third quarter. LSV Asset Management now owns 8,202,664 shares of the company’s stock valued at $273,559,000 after purchasing an additional 77,312 shares during the period. Institutional investors and hedge funds own 68.80% of the company’s stock.
Insider Buying and Selling
In related news, EVP Flavio Torres sold 250,571 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The shares were sold at an average price of $39.58, for a total value of $9,917,600.18. Following the completion of the transaction, the executive vice president now owns 188,983 shares of the company’s stock, 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. Company insiders own 1.40% of the company’s stock.
Kraft Heinz Trading Down 0.2 %
Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its earnings results on Wednesday, February 15th. The company reported $0.85 earnings per share for the quarter, topping 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 firm had revenue of $7.38 billion during the quarter, compared to analysts’ expectations of $7.23 billion. During the same period last year, the firm posted $0.79 earnings per share. The firm’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, research analysts anticipate that The Kraft Heinz Company will post 2.71 EPS for the current fiscal year.
Kraft Heinz Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Friday, March 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Thursday, March 9th. Kraft Heinz’s dividend payout ratio is 83.77%.
Wall Street Analysts Forecast Growth
KHC has been the topic of several analyst reports. Stifel Nicolaus started coverage on shares of Kraft Heinz in a research note on Thursday, April 13th. They issued a “buy” rating and a $44.00 price target on the stock. Mizuho increased their price objective on shares of Kraft Heinz from $48.00 to $50.00 in a report on Friday, January 6th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kraft Heinz from $46.00 to $45.00 in a report on Tuesday. Morgan Stanley increased their price objective on shares of Kraft Heinz from $41.00 to $42.00 and gave the company an “equal weight” rating in a report on Friday, February 17th. Finally, Piper Sandler increased their price objective on shares of Kraft Heinz from $39.00 to $43.00 and gave the company a “neutral” rating in a report on Monday, February 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $42.67.
Kraft Heinz Company Profile
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.
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