AIA Group Ltd Purchases New Stake in The Kraft Heinz Company (NASDAQ:KHC)

AIA Group Ltd purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 151,935 shares of the company’s stock, valued at approximately $5,606,000.

Several other hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz during the fourth quarter worth about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in Kraft Heinz during the fourth quarter worth about $32,000. BKM Wealth Management LLC bought a new position in Kraft Heinz during the fourth quarter worth about $33,000. Headinvest LLC acquired a new stake in shares of Kraft Heinz during the third quarter worth about $38,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth about $38,000. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. Piper Sandler dropped their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Bank of America dropped their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company dropped their price target on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 27th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Moderate Buy” and a consensus price target of $39.42.

Insider Buying and Selling

In other news, insider Lande Rashida La sold 10,140 shares of the 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 directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.32% of the stock is owned by company insiders.

Kraft Heinz Stock Down 0.3 %

KHC stock traded down $0.11 during mid-day trading on Friday, reaching $32.07. The company had a trading volume of 6,249,179 shares, compared to its average volume of 7,918,548. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The stock has a 50 day simple moving average of $34.03 and a two-hundred day simple moving average of $35.72. The company has a market capitalization of $38.94 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 2.58 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 released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the previous year, the company posted $0.68 EPS. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, equities analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

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

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.