DnB Asset Management AS Increases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Sep 18th, 2023

DnB Asset Management AS boosted its stake in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 8.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 135,281 shares of the company’s stock after purchasing an additional 10,273 shares during the period. DnB Asset Management AS’s holdings in Kraft Heinz were worth $4,802,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its stake in shares of Kraft Heinz by 1,835.5% during 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 period. BlackRock Inc. increased its stake in shares of Kraft Heinz by 10.4% during the first quarter. BlackRock Inc. now owns 76,422,467 shares of the company’s stock valued at $2,955,257,000 after buying an additional 7,196,843 shares during the period. Capital World Investors increased its stake in shares of Kraft Heinz by 96.5% during 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 period. Norges Bank purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $252,224,000. Finally, Empower Advisory Group LLC purchased a new stake in Kraft Heinz in the first quarter worth $82,562,000. 75.39% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Down 0.9 %

KHC stock opened at $33.45 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.50 and a current ratio of 0.95. The business’s 50-day moving average is $34.52 and its two-hundred day moving average is $36.94. The company has a market cap of $41.09 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 2.47 and a beta of 0.68. The Kraft Heinz Company has a fifty-two week low of $32.42 and a fifty-two week high of $42.80.

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

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 1st will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Thursday, August 31st. Kraft Heinz’s payout ratio is 62.50%.

Insiders Place Their Bets

In related news, CAO Lande Rashida La sold 16,453 shares of the stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $35.07, for a total transaction of $577,006.71. Following the completion of the sale, the chief accounting officer now owns 206,243 shares in the company, valued at $7,232,942.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the topic of several recent research reports. StockNews.com initiated coverage on Kraft Heinz in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Mizuho reduced their price target on Kraft Heinz from $50.00 to $47.00 in a research note on Monday, July 31st. Piper Sandler reduced their price target on Kraft Heinz from $43.00 to $41.00 in a research note on Monday, June 26th. Barclays reduced their price target on Kraft Heinz from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 20th. Finally, TD Cowen began coverage on Kraft Heinz in a report on Wednesday, September 13th. They issued a “market perform” rating and a $35.00 target price on the stock. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $42.00.

Get Our Latest Stock Report on Kraft Heinz

Kraft Heinz 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.