The Kraft Heinz Company (NASDAQ:KHC) Position Raised by Voya Investment Management LLC

Posted by on Jun 18th, 2023

Voya Investment Management LLC raised its stake in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 10.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 2,014,654 shares of the company’s stock after buying an additional 198,559 shares during the quarter. Voya Investment Management LLC owned approximately 0.16% of Kraft Heinz worth $82,017,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KHC. Price T Rowe Associates Inc. MD lifted its stake in Kraft Heinz by 1,835.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock valued at $794,964,000 after buying an additional 18,518,584 shares during the last quarter. BlackRock Inc. lifted its stake in 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 buying an additional 11,428,520 shares during the last quarter. Vanguard Group Inc. lifted its stake in 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 buying an additional 8,948,708 shares during the last quarter. Capital World Investors lifted its stake in 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 buying an additional 6,537,000 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Kraft Heinz during the fourth quarter valued at about $252,224,000. 68.80% of the stock is currently owned by institutional investors.

Insider Activity

In other Kraft Heinz news, CAO Lande Rashida La sold 25,000 shares of the company’s stock in a transaction on Friday, May 5th. The stock was sold at an average price of $41.00, for a total value of $1,025,000.00. Following the sale, the chief accounting officer now directly owns 234,084 shares in the company, valued at $9,597,444. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on KHC shares. Stifel Nicolaus lifted their price objective on shares of Kraft Heinz from $44.00 to $46.00 in a research note on Thursday, May 4th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Kraft Heinz from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Tuesday, April 18th. Barclays boosted their price target on shares of Kraft Heinz from $42.00 to $44.00 in a research report on Friday, May 5th. StockNews.com cut shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Bank of America lifted their price target on Kraft Heinz from $48.00 to $50.00 in a research note on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average target price of $43.57.

Kraft Heinz Stock Up 0.3 %

Shares of KHC stock opened at $36.99 on Friday. The Kraft Heinz Company has a 12 month low of $32.73 and a 12 month high of $42.80. The firm has a market cap of $45.40 billion, a PE ratio of 18.87, a price-to-earnings-growth ratio of 2.87 and a beta of 0.69. The stock has a 50 day moving average of $38.92 and a 200-day moving average of $39.45. The company has a quick ratio of 0.47, a current ratio of 0.92 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.08. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.39 billion. Kraft Heinz had a return on equity of 7.26% and a net margin of 9.00%. Kraft Heinz’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 earnings per share. On average, equities analysts predict that The Kraft Heinz Company will post 2.88 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Tuesday, June 6th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date is Monday, June 5th. Kraft Heinz’s dividend payout ratio is presently 81.63%.

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.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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