Resona Asset Management Co. Ltd. Makes New Investment in The Kraft Heinz Company (NASDAQ:KHC)

Resona Asset Management Co. Ltd. bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 371,315 shares of the company’s stock, valued at approximately $11,402,000.

Several other institutional investors have also recently made changes to their positions in KHC. Sawyer & Company Inc bought a new stake in Kraft Heinz in the fourth quarter worth about $25,000. Generali Investments Management Co LLC bought a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Kraft Heinz during the 4th quarter valued at $29,000. R Squared Ltd bought a new position in Kraft Heinz in the 4th quarter valued at $34,000. Finally, OFI Invest Asset Management purchased a new stake in Kraft Heinz in the fourth quarter worth $36,000. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. StockNews.com upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Evercore ISI restated an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Piper Sandler dropped their price objective on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Barclays decreased their target price on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Four analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $30.67.

Kraft Heinz Price Performance

KHC opened at $29.68 on Monday. The firm has a market capitalization of $35.42 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The business’s 50-day moving average is $30.09 and its two-hundred day moving average is $31.51. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.39%. Kraft Heinz’s payout ratio is 70.80%.

Kraft Heinz Company Profile

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.