American International Group Inc. Has $15.65 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

American International Group Inc. reduced its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 423,159 shares of the company’s stock after selling 474 shares during the period. American International Group Inc.’s holdings in Kraft Heinz were worth $15,648,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Johnson Investment Counsel Inc. increased its holdings in Kraft Heinz by 27.7% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 14,356 shares of the company’s stock worth $483,000 after purchasing an additional 3,113 shares in the last quarter. Prudential PLC raised its holdings in Kraft Heinz by 67.8% in the 3rd quarter. Prudential PLC now owns 74,947 shares of the company’s stock valued at $2,521,000 after buying an additional 30,293 shares during the last quarter. Rafferty Asset Management LLC grew its holdings in Kraft Heinz by 26.4% during the 3rd quarter. Rafferty Asset Management LLC now owns 311,529 shares of the company’s stock worth $10,480,000 after acquiring an additional 65,143 shares during the last quarter. QRG Capital Management Inc. bought a new stake in Kraft Heinz during the 3rd quarter worth approximately $895,000. Finally, Envestnet Portfolio Solutions Inc. bought a new position in shares of Kraft Heinz during the third quarter valued at $2,409,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on KHC shares. Piper Sandler raised Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 target price for the company in a research report on Wednesday, May 22nd. Bank of America increased their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target 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. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.08.

Insider Activity at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.

Kraft Heinz Stock Down 0.5 %

NASDAQ:KHC traded down $0.16 on Friday, hitting $32.38. The stock had a trading volume of 6,188,901 shares, compared to its average volume of 7,464,971. The company has a market cap of $39.32 billion, a PE ratio of 14.14, a P/E/G 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 business’s fifty day moving average is $36.02 and its 200 day moving average is $36.26. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. On average, equities research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.94%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

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.