OLD National Bancorp IN Has $470,000 Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Apr 25th, 2023

OLD National Bancorp IN lowered its stake in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 3.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 11,530 shares of the company’s stock after selling 454 shares during the period. OLD National Bancorp IN’s holdings in Kraft Heinz were worth $470,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Kraft Heinz by 15.3% during the 3rd quarter. Vanguard Group Inc. now owns 67,502,147 shares of the company’s stock worth $2,251,197,000 after acquiring an additional 8,948,708 shares during the period. BlackRock Inc. lifted its stake in 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 purchasing an additional 11,428,520 shares during the last quarter. State Street Corp lifted its stake in Kraft Heinz by 8.2% in the 3rd 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 last quarter. Capital World Investors lifted its stake in 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 purchasing an additional 6,537,000 shares during the last quarter. Finally, LSV Asset Management lifted its stake in Kraft Heinz by 1.0% in the 3rd 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 last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.

Kraft Heinz Stock Down 0.1 %

Shares of Kraft Heinz stock opened at $39.18 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 company’s fifty day simple moving average is $38.91 and its two-hundred day simple moving average is $38.98. The company has a market cap of $48.07 billion, a P/E ratio of 20.51, a PEG ratio of 3.60 and a beta of 0.69. The Kraft Heinz Company has a 12-month low of $32.73 and a 12-month high of $44.87.

Kraft Heinz (NASDAQ:KHC – Get Rating) last released 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. The firm had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.23 billion. Kraft Heinz had a net margin of 8.92% and a return on equity of 7.03%. The company’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.79 EPS. Research analysts anticipate that The Kraft Heinz Company will post 2.71 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 10th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.08%. The ex-dividend date was Thursday, March 9th. Kraft Heinz’s dividend payout ratio is currently 83.77%.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, EVP Flavio Torres sold 250,571 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now 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 through this hyperlink. Company insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Kraft Heinz from $46.00 to $45.00 and set a “buy” rating for the company in a research report on Tuesday, April 18th. Credit Suisse Group restated an “underperform” rating and issued a $38.00 price target (up from $36.00) on shares of Kraft Heinz in a research report on Thursday, February 16th. Mizuho increased their price objective on shares of Kraft Heinz from $48.00 to $50.00 in a research report on Friday, January 6th. Stifel Nicolaus assumed coverage on shares of Kraft Heinz in a research report on Thursday, April 13th. They set a “buy” rating and a $44.00 price objective for the company. Finally, Piper Sandler increased their price objective on shares of Kraft Heinz from $39.00 to $43.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $42.67.

Kraft Heinz 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.