The Kraft Heinz Company (NASDAQ:KHC) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 11.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 270,705 shares of the company’s stock after acquiring an additional 27,650 shares during the quarter. OLD National Bancorp IN’s holdings in Kraft Heinz were worth $8,238,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC purchased a new position in Kraft Heinz in the fourth quarter valued at about $2,048,000. Versant Capital Management Inc raised its position in Kraft Heinz by 493.4% in the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company’s stock valued at $376,000 after purchasing an additional 10,272 shares during the period. Banque Pictet & Cie SA raised its position in Kraft Heinz by 10.8% in the fourth quarter. Banque Pictet & Cie SA now owns 90,000 shares of the company’s stock valued at $2,764,000 after purchasing an additional 8,787 shares during the period. Americana Partners LLC purchased a new position in Kraft Heinz in the fourth quarter valued at about $7,005,000. Finally, Van ECK Associates Corp raised its position in Kraft Heinz by 2.2% in the fourth quarter. Van ECK Associates Corp now owns 125,388 shares of the company’s stock valued at $3,850,000 after purchasing an additional 2,727 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Up 0.4%

Shares of Kraft Heinz stock opened at $26.73 on Friday. 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 business has a 50-day moving average price of $28.26 and a 200 day moving average price of $29.59. The Kraft Heinz Company has a fifty-two week low of $26.01 and a fifty-two week high of $36.53. The firm has a market cap of $31.64 billion, a P/E ratio of 11.83, a P/E/G ratio of 3.39 and a beta of 0.27.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the firm posted $0.69 earnings per share. Kraft Heinz’s quarterly revenue was down 6.4% compared to the same quarter last year. On average, sell-side analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 5.99%. Kraft Heinz’s payout ratio is currently 73.06%.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of analyst reports. Bank of America lowered Kraft Heinz from a “buy” rating to an “underperform” rating and dropped their target price for the stock from $36.00 to $30.00 in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on Kraft Heinz in a research report on Monday, March 24th. They set an “underweight” rating and a $29.00 target price on the stock. Mizuho set a $29.00 target price on Kraft Heinz and gave the stock a “neutral” rating in a research report on Wednesday, May 28th. Piper Sandler dropped their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Stifel Nicolaus dropped their target price on Kraft Heinz from $31.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, April 30th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $30.53.

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.