PNC Financial Services Group Inc. Acquires 6,135 Shares of The Kraft Heinz Company (NASDAQ:KHC)

PNC Financial Services Group Inc. lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 210,297 shares of the company’s stock after purchasing an additional 6,135 shares during the period. PNC Financial Services Group Inc.’s holdings in Kraft Heinz were worth $7,777,000 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. Turtle Creek Wealth Advisors LLC purchased a new stake in Kraft Heinz in the fourth quarter worth $32,000. BKM Wealth Management LLC purchased a new stake in shares of Kraft Heinz in the fourth quarter worth $33,000. Headinvest LLC purchased a new stake in shares of Kraft Heinz in the third quarter worth $38,000. VisionPoint Advisory Group LLC grew its stake 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 worth $41,000 after acquiring an additional 936 shares during the last quarter. Finally, Anchor Investment Management LLC purchased a new stake in shares of Kraft Heinz in the fourth quarter worth $47,000. Institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Down 1.6 %

Shares of KHC opened at $35.80 on Friday. The company has a market capitalization of $43.47 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 2.92 and a beta of 0.65. The business’s 50 day moving average is $36.61 and its 200 day moving average is $36.18. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.97.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.68 EPS. Research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s payout ratio is 69.87%.

Analyst Ratings Changes

A number of research firms have recently commented on KHC. Bank of America increased their target price on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their target price on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company dropped their price objective 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 started coverage on Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Piper Sandler raised Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $40.08.

Kraft Heinz 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.