abrdn plc Has $13.35 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

abrdn plc increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 64.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360,941 shares of the company’s stock after acquiring an additional 141,093 shares during the period. abrdn plc’s holdings in Kraft Heinz were worth $13,348,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in KHC. Vanguard Group Inc. lifted its stake in Kraft Heinz by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 70,215,597 shares of the company’s stock valued at $2,362,053,000 after purchasing an additional 417,115 shares during the last quarter. Invesco Ltd. lifted 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 valued at $827,581,000 after purchasing an additional 2,369,080 shares during the last quarter. Morgan Stanley lifted its stake in Kraft Heinz by 7.2% in 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 last quarter. LSV Asset Management raised its stake in shares of Kraft Heinz by 27.1% during the third quarter. LSV Asset Management now owns 9,263,400 shares of the company’s stock valued at $311,621,000 after acquiring an additional 1,977,571 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Kraft Heinz by 3.7% during the third quarter. Northern Trust Corp now owns 9,120,015 shares of the company’s stock valued at $306,797,000 after acquiring an additional 324,450 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Ratings Changes

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

Kraft Heinz Trading Down 0.5 %

NASDAQ:KHC opened at $38.37 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $46.64 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 3.04 and a beta of 0.67. The firm has a fifty day simple moving average of $36.14 and a two-hundred day simple moving average of $35.55. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $41.47.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The business had revenue of $6.86 billion during 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%. The business’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. Analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date of this dividend was Thursday, March 7th. Kraft Heinz’s dividend payout ratio is currently 69.26%.

About Kraft Heinz

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.