Norden Group LLC Makes New Investment in The Kraft Heinz Company (NASDAQ:KHC)

Norden Group LLC bought a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 143,952 shares of the company’s stock, valued at approximately $5,312,000.

Several other large investors also recently modified their holdings of KHC. Vanguard Group Inc. increased its stake in Kraft Heinz by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after purchasing an additional 183,234 shares in the last quarter. Morgan Stanley lifted its position in Kraft Heinz by 7.2% in 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 in the last quarter. Legal & General Group Plc boosted its stake in Kraft Heinz by 1.2% in the 3rd 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 period. Charles Schwab Investment Management Inc. increased its holdings in Kraft Heinz by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock worth $169,268,000 after purchasing an additional 137,169 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Kraft Heinz by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock valued at $113,960,000 after purchasing an additional 474,758 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was 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 owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KHC shares. Deutsche Bank Aktiengesellschaft increased their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company decreased their price target on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Piper Sandler cut their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Finally, Bank of America raised their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $39.75.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $32.09 on Thursday. The firm has a market capitalization of $38.97 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 2.58 and a beta of 0.53. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The firm’s fifty day moving average price is $34.94 and its two-hundred day moving average price is $35.95. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the previous year, the business earned $0.68 EPS. Kraft Heinz’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.99%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

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.