Meiji Yasuda Asset Management Co Ltd. Has $1.14 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Meiji Yasuda Asset Management Co Ltd. increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 90.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 35,225 shares of the company’s stock after buying an additional 16,772 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Kraft Heinz were worth $1,135,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. TCW Group Inc. bought a new position in Kraft Heinz during the 4th quarter worth about $1,098,000. Shell Asset Management Co. increased its holdings in Kraft Heinz by 251.3% during the 4th quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after purchasing an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in Kraft Heinz by 120.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after purchasing an additional 75,149 shares in the last quarter. Bridgewater Associates LP increased its holdings in Kraft Heinz by 7.7% during the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock worth $61,450,000 after purchasing an additional 118,260 shares in the last quarter. Finally, Lazard Asset Management LLC increased its holdings in Kraft Heinz by 13.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after purchasing an additional 234,783 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Down 0.4 %

Shares of NASDAQ:KHC opened at $34.99 on Friday. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a market capitalization of $42.49 billion, a P/E ratio of 15.28, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The company has a 50-day simple moving average of $34.74 and a 200 day simple moving average of $35.05. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results 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. The business had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. Kraft Heinz’s revenue was down 3.3% on a year-over-year basis. During the same period last year, the business posted $0.79 EPS. Sell-side analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders 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 annualized dividend and a yield of 4.57%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Evercore ISI lowered their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Citigroup decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Piper Sandler decreased their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.50.

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.