iA Global Asset Management Inc. Increases Stake in The Kraft Heinz Company (NASDAQ:KHC)

iA Global Asset Management Inc. lifted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 170,034 shares of the company’s stock after acquiring an additional 7,611 shares during the period. iA Global Asset Management Inc.’s holdings in Kraft Heinz were worth $6,274,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in Kraft Heinz by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after buying an additional 183,234 shares during the period. Capital World Investors raised its holdings in Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after buying an additional 3,961,872 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Kraft Heinz by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock valued at $169,268,000 after buying an additional 137,169 shares during the period. Dimensional Fund Advisors LP raised its holdings in Kraft Heinz by 18.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock valued at $113,960,000 after buying an additional 474,758 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Kraft Heinz by 56.7% in the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after buying an additional 1,027,636 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Stock Up 0.5 %

Shares of KHC stock traded up $0.19 during mid-day trading on Thursday, reaching $35.40. 10,089,628 shares of the company were exchanged, compared to its average volume of 8,015,543. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The company has a market capitalization of $42.99 billion, a P/E ratio of 15.46, a P/E/G ratio of 3.40 and a beta of 0.53. The business’s 50 day simple moving average is $33.35 and its 200 day simple moving average is $35.33.

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, topping the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same period last year, the business posted $0.79 earnings per share. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. Research analysts predict that The Kraft Heinz Company will post 2.99 earnings per share for the current year.

Kraft Heinz Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on KHC shares. Deutsche Bank Aktiengesellschaft cut their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday. Bank of America lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. Wells Fargo & Company increased their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday. Citigroup lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Barclays increased their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $37.58.

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 value of $364,533.00. Following the sale, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

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.