United Services Automobile Association Buys 5,404 Shares of The Kraft Heinz Company (NASDAQ:KHC)

United Services Automobile Association grew its stake in The Kraft Heinz Company (NASDAQ:KHCFree Report) by 28.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,581 shares of the company’s stock after purchasing an additional 5,404 shares during the quarter. United Services Automobile Association’s holdings in Kraft Heinz were worth $909,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. lifted its holdings in Kraft Heinz by 6.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 282,819 shares of the company’s stock worth $10,459,000 after acquiring an additional 17,908 shares during the period. Orion Portfolio Solutions LLC raised its stake in shares of Kraft Heinz by 0.5% in the fourth quarter. Orion Portfolio Solutions LLC now owns 112,408 shares of the company’s stock valued at $4,300,000 after buying an additional 546 shares during the period. TCW Group Inc. bought a new stake in shares of Kraft Heinz in the fourth quarter valued at $1,098,000. Hohimer Wealth Management LLC raised its stake in shares of Kraft Heinz by 7.8% in the fourth quarter. Hohimer Wealth Management LLC now owns 24,844 shares of the company’s stock valued at $919,000 after buying an additional 1,790 shares during the period. Finally, WBI Investments LLC raised its stake in shares of Kraft Heinz by 104.9% in the fourth quarter. WBI Investments LLC now owns 119,712 shares of the company’s stock valued at $4,427,000 after buying an additional 61,294 shares during the period. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the subject of several recent research reports. Bank of America lifted their price target on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Wells Fargo & Company cut their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Piper Sandler upgraded Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Wednesday, May 22nd. Citigroup started coverage on Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.08.

Read Our Latest Stock Report on Kraft Heinz

Insider Buying and Selling

In related 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 transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.37% of the stock is owned by insiders.

Kraft Heinz Stock Up 0.3 %

KHC traded up $0.12 during trading on Wednesday, hitting $35.17. 879,379 shares of the company’s stock traded hands, compared to its average volume of 7,826,724. The company’s 50 day simple moving average is $36.65 and its two-hundred day simple moving average is $36.26. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96. The stock has a market capitalization of $42.71 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 2.87 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHCGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.68 EPS. Analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.55%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Kraft Heinz Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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