Barings LLC Invests $305,000 in The Kraft Heinz Company (NASDAQ:KHC)

Barings LLC acquired a new position in The Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to its most recent 13F filing with the SEC. The firm acquired 7,482 shares of the company’s stock, valued at approximately $305,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of The Kraft Heinz by 0.5% in the 2nd quarter. BlackRock Inc. now owns 44,695,230 shares of the company’s stock worth $1,822,674,000 after purchasing an additional 243,481 shares during the period. Capital International Investors raised its holdings in shares of The Kraft Heinz by 42.2% during the 1st quarter. Capital International Investors now owns 12,255,988 shares of the company’s stock valued at $490,240,000 after buying an additional 3,638,125 shares during the period. Geode Capital Management LLC raised its holdings in shares of The Kraft Heinz by 2.6% during the 1st quarter. Geode Capital Management LLC now owns 10,802,379 shares of the company’s stock valued at $431,280,000 after buying an additional 270,692 shares during the period. Northern Trust Corp raised its holdings in shares of The Kraft Heinz by 0.3% during the 1st quarter. Northern Trust Corp now owns 7,753,261 shares of the company’s stock valued at $310,130,000 after buying an additional 24,422 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of The Kraft Heinz by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 6,860,421 shares of the company’s stock valued at $274,416,000 after buying an additional 80,360 shares during the period. Institutional investors own 61.25% of the company’s stock.

In related news, insider Marcos Eloi Lima sold 41,929 shares of the business’s stock in a transaction that occurred on Friday, September 10th. The stock was sold at an average price of $36.44, for a total transaction of $1,527,892.76. Following the completion of the transaction, the insider now owns 191,620 shares in the company, valued at approximately $6,982,632.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.70% of the stock is currently owned by company insiders.

Several equities research analysts recently commented on KHC shares. Credit Suisse Group dropped their target price on The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating on the stock in a report on Thursday, August 5th. Piper Sandler dropped their target price on The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Friday, August 20th. Morgan Stanley started coverage on The Kraft Heinz in a report on Tuesday. They set a “hold” rating and a $37.00 target price on the stock. Finally, Zacks Investment Research lowered The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 price objective for the company. in a research note on Wednesday, June 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.90.

Shares of KHC opened at $36.39 on Friday. The firm has a market cap of $44.52 billion, a price-to-earnings ratio of 20.56, a PEG ratio of 2.70 and a beta of 1.12. The stock has a 50 day moving average of $37.22 and a 200-day moving average of $39.86. The company has a current ratio of 1.15, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47. The Kraft Heinz Company has a 52 week low of $28.56 and a 52 week high of $44.95.

The Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, August 4th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. The company had revenue of $6.62 billion during the quarter, compared to analyst estimates of $6.55 billion. The Kraft Heinz had a return on equity of 7.34% and a net margin of 8.20%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter last year, the firm earned $0.80 EPS. On average, sell-side analysts predict that The Kraft Heinz Company will post 2.69 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 24th. Stockholders of record on Wednesday, September 1st were given a $0.40 dividend. The ex-dividend date was Tuesday, August 31st. This represents a $1.60 annualized dividend and a dividend yield of 4.40%. The Kraft Heinz’s payout ratio is 55.56%.

About The Kraft Heinz

The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.

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

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