Russell Investments Group Ltd. Has $19.16 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Aug 15th, 2023

Russell Investments Group Ltd. grew its holdings in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 21.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 495,272 shares of the company’s stock after purchasing an additional 86,683 shares during the period. Russell Investments Group Ltd.’s holdings in Kraft Heinz were worth $19,155,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KHC. Corrado Advisors LLC acquired a new position in Kraft Heinz during the fourth quarter worth $28,000. Heritage Wealth Management LLC acquired a new position in Kraft Heinz during the fourth quarter worth $29,000. Beirne Wealth Consulting Services LLC acquired a new position in Kraft Heinz during the fourth quarter worth $30,000. ST Germain D J Co. Inc. acquired a new position in Kraft Heinz during the fourth quarter worth $30,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new position in Kraft Heinz during the fourth quarter worth $35,000. 72.13% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KHC. Barclays lowered their target price on shares of Kraft Heinz from $40.00 to $38.00 and set an “equal weight” rating on the stock in a report on Thursday, July 20th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kraft Heinz from $46.00 to $45.00 and set a “buy” rating on the stock in a report on Tuesday, April 18th. The Goldman Sachs Group upped their price objective on shares of Kraft Heinz from $45.00 to $48.00 in a report on Wednesday, May 3rd. Mizuho decreased their price objective on shares of Kraft Heinz from $50.00 to $47.00 in a report on Monday, July 31st. Finally, Bank of America upped their price objective on shares of Kraft Heinz from $48.00 to $50.00 in a report on Thursday, May 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $42.54.

View Our Latest Report on Kraft Heinz

Kraft Heinz Trading Down 0.9 %

KHC opened at $34.24 on Tuesday. The Kraft Heinz Company has a twelve month low of $32.73 and a twelve month high of $42.80. The company has a 50-day simple moving average of $35.92 and a 200 day simple moving average of $38.02. The company has a quick ratio of 0.50, a current ratio of 0.95 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $42.06 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 2.57 and a beta of 0.67.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $0.79 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.05. Kraft Heinz had a net margin of 11.65% and a return on equity of 7.45%. The business had revenue of $6.72 billion during the quarter, compared to analysts’ expectations of $6.80 billion. During the same quarter in the prior year, the business posted $0.70 earnings per share. Kraft Heinz’s revenue was up 2.5% compared to the same quarter last year. Analysts predict that The Kraft Heinz Company will post 2.89 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 1st will be issued a $0.40 dividend. The ex-dividend date is Thursday, August 31st. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.67%. Kraft Heinz’s dividend payout ratio (DPR) is currently 62.50%.

Insider Transactions at Kraft Heinz

In other news, CAO Lande Rashida La sold 16,453 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $35.07, for a total value of $577,006.71. Following the completion of the transaction, the chief accounting officer now owns 206,243 shares of the company’s stock, valued at $7,232,942.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.40% of the company’s stock.

Kraft Heinz Company Profile

(Free Report)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.