Royal Fund Management LLC Purchases 2,190 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Royal Fund Management LLC boosted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 6.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,468 shares of the company’s stock after acquiring an additional 2,190 shares during the quarter. Royal Fund Management LLC’s holdings in Kraft Heinz were worth $1,272,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Kraft Heinz by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after buying an additional 183,234 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Kraft Heinz by 7.2% during the 3rd quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after acquiring an additional 850,326 shares during the last quarter. Northern Trust Corp grew its stake in shares of Kraft Heinz by 3.7% in the third quarter. Northern Trust Corp now owns 9,120,015 shares of the company’s stock worth $306,797,000 after acquiring an additional 324,450 shares during the period. Legal & General Group Plc boosted its holdings in Kraft Heinz by 1.2% in the third quarter. Legal & General Group Plc now owns 6,970,103 shares of the company’s stock worth $234,474,000 after purchasing an additional 85,295 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Kraft Heinz by 86.0% during the 3rd 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. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KHC has been the topic of a number of recent research reports. Bank of America increased their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Piper Sandler decreased their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Kraft Heinz Trading Up 0.5 %

Shares of NASDAQ:KHC traded up $0.16 during trading on Monday, hitting $33.11. The company had a trading volume of 348,536 shares, compared to its average volume of 7,986,994. The company has a fifty day simple moving average of $35.62 and a two-hundred day simple moving average of $36.17. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The stock has a market cap of $40.21 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.63 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.68 earnings per share. As a group, equities analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.83%. Kraft Heinz’s payout ratio is 69.87%.

Insider Transactions at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.32% 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.