Westpac Banking Corp Boosts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Westpac Banking Corp grew its holdings in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,072 shares of the company’s stock after buying an additional 1,225 shares during the period. Westpac Banking Corp’s holdings in Kraft Heinz were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.37% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on KHC shares. Deutsche Bank Aktiengesellschaft raised their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Bank of America upped their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Citigroup assumed coverage on Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price target on the stock. Finally, Wells Fargo & Company reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. 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 company currently has an average rating of “Hold” and an average target price of $39.50.

Get Our Latest Report on Kraft Heinz

Kraft Heinz Price Performance

KHC traded down $0.20 on Wednesday, hitting $35.99. 2,605,864 shares of the company were exchanged, compared to its average volume of 8,008,648. The business’s fifty day moving average is $36.43 and its 200 day moving average is $36.03. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $39.97. 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 firm has a market capitalization of $43.70 billion, a P/E ratio of 15.76, a price-to-earnings-growth ratio of 2.93 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHCGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period in the previous year, the firm posted $0.68 earnings per share. Kraft Heinz’s revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

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 issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is presently 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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