OFI Invest Asset Management Purchases Shares of 1,213 The Kraft Heinz Company (NASDAQ:KHC)

OFI Invest Asset Management acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,213 shares of the company’s stock, valued at approximately $36,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Kraft Heinz in the third quarter worth about $411,304,000. State Street Corp lifted its holdings in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares during the period. Geode Capital Management LLC lifted its holdings in Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after buying an additional 1,944,019 shares during the period. Raymond James Financial Inc. purchased a new stake in Kraft Heinz in the fourth quarter worth about $39,339,000. Finally, Nordea Investment Management AB lifted its holdings in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Trading Up 0.1 %

NASDAQ KHC opened at $32.22 on Tuesday. The company has a market capitalization of $38.50 billion, a PE ratio of 14.26, a P/E/G ratio of 3.39 and a beta of 0.40. The company has a fifty day moving average of $29.88 and a 200 day moving average of $32.24. 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 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%. Research analysts forecast 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.97%. Kraft Heinz’s dividend payout ratio is presently 70.80%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on KHC shares. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $31.00 in a report on Monday, February 10th. JPMorgan Chase & Co. lowered their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. UBS Group lowered their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Piper Sandler reduced their price objective on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $30.86.

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.