BNP PARIBAS ASSET MANAGEMENT Holding S.A. Raises Stake in The Kraft Heinz Company (NASDAQ:KHC)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 173.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 466,142 shares of the company’s stock after buying an additional 295,889 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Kraft Heinz were worth $15,019,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KHC. Federated Hermes Inc. lifted its holdings in shares of Kraft Heinz by 84.6% in the 4th quarter. Federated Hermes Inc. now owns 6,428 shares of the company’s stock valued at $238,000 after buying an additional 2,945 shares during the period. Choreo LLC lifted its holdings in Kraft Heinz by 40.4% in the fourth quarter. Choreo LLC now owns 11,125 shares of the company’s stock valued at $411,000 after acquiring an additional 3,204 shares during the period. First Trust Direct Indexing L.P. boosted its position in Kraft Heinz by 28.4% in the 4th quarter. First Trust Direct Indexing L.P. now owns 25,406 shares of the company’s stock worth $939,000 after purchasing an additional 5,612 shares in the last quarter. LGT Group Foundation grew its stake in shares of Kraft Heinz by 0.6% during the 4th quarter. LGT Group Foundation now owns 61,501 shares of the company’s stock worth $2,260,000 after purchasing an additional 389 shares during the period. Finally, West Family Investments Inc. purchased a new position in shares of Kraft Heinz during the 4th quarter valued at approximately $243,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KHC. The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Wells Fargo & Company raised their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Bank of America reduced their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Evercore ISI dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Barclays upped their target price on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $37.31.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $35.43 on Friday. The company has a fifty day simple moving average of $33.77 and a 200-day simple moving average of $35.05. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $43.02 billion, a price-to-earnings ratio of 15.47, a PEG ratio of 3.52 and a beta of 0.53. 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 announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the company earned $0.79 EPS. Kraft Heinz’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.52%. Kraft Heinz’s payout ratio is 69.87%.

Kraft Heinz 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.