PNC Financial Services Group Inc. Raises Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

PNC Financial Services Group Inc. increased its stake in The Kraft Heinz Company (NASDAQ:KHCFree Report) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. FSC Wealth Advisors LLC increased its holdings in shares of Kraft Heinz by 23.4% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock valued at $53,000 after purchasing an additional 270 shares in the last quarter. Archer Investment Corp increased its holdings in shares of Kraft Heinz by 2.0% during the 4th quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock valued at $544,000 after purchasing an additional 294 shares in the last quarter. Ingalls & Snyder LLC increased its holdings in Kraft Heinz by 3.1% in the 4th quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock worth $370,000 after acquiring an additional 300 shares in the last quarter. Johnson Investment Counsel Inc. increased its holdings in Kraft Heinz by 2.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 14,663 shares of the company’s stock worth $542,000 after acquiring an additional 307 shares in the last quarter. Finally, Econ Financial Services Corp increased its holdings in Kraft Heinz by 0.6% in the 3rd quarter. Econ Financial Services Corp now owns 53,310 shares of the company’s stock worth $1,793,000 after acquiring an additional 310 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz 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 completion of the transaction, the insider now owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Citigroup assumed coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target for the company. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Piper Sandler raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a report on Wednesday. Finally, Bank of America upped 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. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.08.

Get Our Latest Research Report on KHC

Kraft Heinz Trading Down 1.6 %

NASDAQ KHC opened at $35.80 on Friday. The firm has a 50 day simple moving average of $36.61 and a 200-day simple moving average of $36.18. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.97. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 2.92 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHCGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping 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 company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter last year, the company earned $0.68 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research 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 disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.47%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Kraft Heinz 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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