PNC Financial Services Group Inc. Purchases 6,135 Shares of The Kraft Heinz Company (NASDAQ:KHC)

PNC Financial Services Group Inc. boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 210,297 shares of the company’s stock after acquiring an additional 6,135 shares during the period. PNC Financial Services Group Inc.’s holdings in Kraft Heinz were worth $7,777,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Kraft Heinz by 86.0% during the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock valued at $155,671,000 after buying an additional 2,140,153 shares during the last quarter. Morgan Stanley raised its position in shares of Kraft Heinz by 7.2% during the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after buying an additional 850,326 shares during the last quarter. FMR LLC raised its position in shares of Kraft Heinz by 37.9% during the third quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after buying an additional 832,653 shares during the last quarter. Lazard Asset Management LLC increased its position in Kraft Heinz by 1,410.0% in the third quarter. Lazard Asset Management LLC now owns 758,310 shares of the company’s stock worth $25,508,000 after purchasing an additional 708,092 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in Kraft Heinz by 165.6% in the fourth quarter. Bank of Nova Scotia now owns 1,039,812 shares of the company’s stock worth $38,450,000 after purchasing an additional 648,365 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 1.7 %

NASDAQ KHC opened at $32.92 on Tuesday. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $35.93 and a two-hundred day moving average of $36.25. The firm has a market capitalization of $39.97 billion, a price-to-earnings ratio of 14.38, a PEG ratio of 2.61 and a beta of 0.57. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 earnings per share. On average, analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.86%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Piper Sandler upgraded shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price target on the stock in a research report on Wednesday, May 22nd. Finally, Bank of America boosted their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $40.08.

Insider Activity

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

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.