KLP Kapitalforvaltning AS Invests $9.76 Million in The Kraft Heinz Company (NASDAQ:KHC)

KLP Kapitalforvaltning AS acquired a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 317,659 shares of the company’s stock, valued at approximately $9,755,000.

Other large investors have also recently bought and sold shares of the company. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz during the 4th quarter worth $25,000. Generali Investments Management Co LLC purchased a new stake in Kraft Heinz during the fourth quarter worth about $26,000. Larson Financial Group LLC boosted its holdings in Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after buying an additional 636 shares in the last quarter. R Squared Ltd acquired a new position in Kraft Heinz during the fourth quarter worth about $34,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz during the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Down 1.4 %

Shares of Kraft Heinz stock opened at $29.12 on Tuesday. The firm has a market cap of $34.80 billion, a PE ratio of 12.89, a P/E/G ratio of 3.39 and a beta of 0.40. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The business’s fifty day moving average is $29.92 and its two-hundred day moving average is $31.85.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.49%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $28.00 in a research note on Thursday, February 13th. TD Cowen dropped their price target on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Piper Sandler decreased their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group dropped their target price on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group reduced their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $30.73.

Kraft Heinz 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.