Shell Asset Management Co. Buys 24,199 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Shell Asset Management Co. grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 251.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,829 shares of the company’s stock after acquiring an additional 24,199 shares during the period. Shell Asset Management Co.’s holdings in Kraft Heinz were worth $1,251,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of 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. AQR Capital Management LLC lifted its stake in Kraft Heinz by 86.0% in the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after acquiring an additional 2,140,153 shares during the period. Nordea Investment Management AB grew its holdings in Kraft Heinz by 3,167.3% during the 3rd quarter. Nordea Investment Management AB now owns 1,869,778 shares of the company’s stock worth $63,198,000 after acquiring an additional 1,812,551 shares in the last quarter. Morgan Stanley increased its position 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 purchasing an additional 850,326 shares during the period. Finally, FMR LLC raised its holdings in shares of Kraft Heinz by 37.9% in the 3rd quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after purchasing an additional 832,653 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KHC. Piper Sandler raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective on the stock in a report on Wednesday, May 22nd. Bank of America lifted their price target on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft upped their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Finally, Wells Fargo & Company cut their target price on 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 company’s stock. According to data from MarketBeat, Kraft Heinz has an average rating of “Moderate Buy” and a consensus target price of $40.08.

Check Out Our Latest Stock Analysis on KHC

Insider Activity

In related news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Performance

KHC opened at $33.55 on Tuesday. The company has a market cap of $40.74 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.57. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The firm’s 50-day moving average price is $36.37 and its 200-day moving average price is $36.32. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96.

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

Kraft Heinz Announces Dividend

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

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.

Further Reading

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

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