Envestnet Asset Management Inc. Decreases Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Envestnet Asset Management Inc. lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 2.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,640,618 shares of the company’s stock after selling 44,254 shares during the quarter. Envestnet Asset Management Inc. owned 0.13% of Kraft Heinz worth $60,670,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of KHC. Vanguard Group Inc. increased its stake in Kraft Heinz by 0.6% in the third quarter. Vanguard Group Inc. now owns 70,215,597 shares of the company’s stock worth $2,362,053,000 after purchasing an additional 417,115 shares during the period. Invesco Ltd. increased its stake in Kraft Heinz by 10.7% in the 3rd quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock worth $827,581,000 after buying an additional 2,369,080 shares during the period. Morgan Stanley lifted its holdings in Kraft Heinz by 7.2% during the 3rd quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after buying an additional 850,326 shares in the last quarter. Northern Trust Corp boosted its position in Kraft Heinz by 3.7% in the 3rd quarter. Northern Trust Corp now owns 9,120,015 shares of the company’s stock valued at $306,797,000 after buying an additional 324,450 shares during the period. Finally, Legal & General Group Plc grew its stake in Kraft Heinz by 1.2% in the 3rd quarter. Legal & General Group Plc now owns 6,970,103 shares of the company’s stock worth $234,474,000 after acquiring an additional 85,295 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

NASDAQ KHC opened at $33.55 on Tuesday. The firm’s fifty day simple moving average is $36.37 and its two-hundred day simple moving average is $36.32. The firm has a market capitalization of $40.74 billion, a P/E ratio of 14.65, a P/E/G ratio of 2.76 and a beta of 0.57. 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 $38.96.

Kraft Heinz (NASDAQ:KHCGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period last year, the business posted $0.68 earnings per share. The firm’s revenue was down 1.2% compared to the same quarter last year. Analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.77%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on KHC. Piper Sandler raised Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a research report on Wednesday, May 22nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Bank of America raised their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Wells Fargo & Company dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 15th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $40.08.

Check Out Our Latest Report on Kraft Heinz

Insider Buying and Selling at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is currently owned by company insiders.

Kraft Heinz Company Profile

(Free Report)

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.

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

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