Resona Asset Management Co. Ltd. Has $10.11 Million Stock Position in Kraft Heinz Company $KHC

Resona Asset Management Co. Ltd. boosted its holdings in Kraft Heinz Company (NASDAQ:KHC) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 392,080 shares of the company’s stock after buying an additional 4,769 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Kraft Heinz were worth $10,114,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KHC. Investment Management Corp VA ADV lifted its holdings in shares of Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock worth $35,000 after acquiring an additional 669 shares during the last quarter. Mid American Wealth Advisory Group Inc. acquired a new position in Kraft Heinz during the 2nd quarter worth approximately $39,000. Banque Transatlantique SA bought a new position in Kraft Heinz in the 1st quarter valued at approximately $40,000. Hilltop National Bank bought a new position in Kraft Heinz in the 2nd quarter valued at approximately $41,000. Finally, Larson Financial Group LLC boosted its position in Kraft Heinz by 52.6% in the first quarter. Larson Financial Group LLC now owns 1,558 shares of the company’s stock valued at $47,000 after buying an additional 537 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. Morgan Stanley reduced their price target on Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. Piper Sandler lowered their price objective on Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. DZ Bank upgraded shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. Finally, HSBC decreased their price target on shares of Kraft Heinz from $29.00 to $27.00 in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz currently has a consensus rating of “Reduce” and a consensus target price of $26.58.

Kraft Heinz Trading Up 2.4%

NASDAQ KHC opened at $24.28 on Friday. The stock has a market capitalization of $28.74 billion, a P/E ratio of -6.51, a P/E/G ratio of 2.88 and a beta of 0.16. The business has a 50 day simple moving average of $25.70 and a 200 day simple moving average of $26.77. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Kraft Heinz Company has a one year low of $23.70 and a one year high of $33.35.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The firm had revenue of $6.39 billion for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. Research analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Friday, November 28th. Kraft Heinz’s dividend payout ratio is currently -42.90%.

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.