Dai ichi Life Insurance Company Ltd Has $4.69 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Dai ichi Life Insurance Company Ltd reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 71.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 133,619 shares of the company’s stock after selling 330,117 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Kraft Heinz were worth $4,691,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of KHC. Dimensional Fund Advisors LP increased its position in Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after buying an additional 1,778,263 shares during the period. Thompson Siegel & Walmsley LLC increased its position in Kraft Heinz by 387.7% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,455,033 shares of the company’s stock worth $51,086,000 after acquiring an additional 1,156,712 shares during the period. Marshall Wace LLP raised its stake in Kraft Heinz by 260.8% in the 2nd quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock worth $37,686,000 after purchasing an additional 845,490 shares in the last quarter. Poplar Forest Capital LLC bought a new stake in Kraft Heinz in the 2nd quarter valued at about $26,353,000. Finally, Legal & General Group Plc grew its position in shares of Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after purchasing an additional 799,581 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $31.97 on Wednesday. The Kraft Heinz Company has a fifty-two week low of $30.40 and a fifty-two week high of $38.96. The stock has a market cap of $38.66 billion, a PE ratio of 28.80, a PEG ratio of 3.66 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The firm’s fifty day moving average price is $33.95 and its two-hundred day moving average price is $34.19.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same quarter in the previous year, the company posted $0.72 EPS. Kraft Heinz’s quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.00%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Analyst Upgrades and Downgrades

KHC has been the subject of several recent research reports. Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Evercore ISI reduced their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $38.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and a consensus price target of $36.55.

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.