The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Centre Asset Management LLC

Centre Asset Management LLC trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 4.9% in the first quarter, Holdings Channel reports. The firm owned 257,589 shares of the company’s stock after selling 13,164 shares during the period. Kraft Heinz comprises 2.3% of Centre Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding. Centre Asset Management LLC’s holdings in Kraft Heinz were worth $9,505,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KHC. AQR Capital Management LLC increased its position in shares of Kraft Heinz by 86.0% during the 3rd quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after purchasing an additional 2,140,153 shares during the last quarter. Nordea Investment Management AB grew its position in Kraft Heinz by 3,167.3% in the 3rd quarter. Nordea Investment Management AB now owns 1,869,778 shares of the company’s stock valued at $63,198,000 after acquiring an additional 1,812,551 shares in the last quarter. Morgan Stanley grew its position 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 acquiring an additional 850,326 shares in the last quarter. FMR LLC grew its position in 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 acquiring an additional 832,653 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in Kraft Heinz by 1,410.0% in the 3rd quarter. Lazard Asset Management LLC now owns 758,310 shares of the company’s stock valued at $25,508,000 after acquiring an additional 708,092 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the transaction, 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 SEC, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Piper Sandler upgraded Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a research note on Wednesday, May 22nd. Finally, Bank of America lifted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $40.08.

View Our Latest Stock Report on Kraft Heinz

Kraft Heinz Stock Down 0.8 %

KHC stock traded down $0.25 during trading on Tuesday, hitting $32.67. 6,077,596 shares of the company’s stock were exchanged, compared to its average volume of 7,987,176. The business has a 50-day moving average price of $35.93 and a two-hundred day moving average price of $36.25. The stock has a market capitalization of $39.67 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 2.61 and a beta of 0.57. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

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, topping the consensus estimate of $0.68 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.68 earnings per share. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

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 given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.90%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

About Kraft Heinz

(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

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kraft Heinz Company (NASDAQ:KHCFree Report).

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

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