Truist Financial Corp Purchases 61,651 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Truist Financial Corp boosted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 25.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 306,704 shares of the company’s stock after purchasing an additional 61,651 shares during the period. Truist Financial Corp’s holdings in Kraft Heinz were worth $11,342,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Kraft Heinz during the third quarter worth $26,000. Turtle Creek Wealth Advisors LLC bought a new position in Kraft Heinz during the 4th quarter worth about $32,000. BKM Wealth Management LLC bought a new position in Kraft Heinz during the 4th quarter worth about $33,000. Headinvest LLC bought a new stake in shares of Kraft Heinz in the third quarter valued at about $38,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in shares of Kraft Heinz by 326.1% in the third quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock valued at $41,000 after purchasing an additional 936 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company dropped their target price on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Citigroup initiated coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price objective on the stock. Bank of America increased their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $40.57.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $36.28 on Thursday. The company has a fifty day moving average price of $36.34 and a two-hundred day moving average price of $35.74. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $41.47. The stock has a market cap of $44.10 billion, a P/E ratio of 15.71, a P/E/G ratio of 3.05 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.54.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. Kraft Heinz’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.85 EPS. As a group, equities analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.41%. Kraft Heinz’s dividend payout ratio is currently 69.26%.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.