OVERSEA CHINESE BANKING Corp Ltd Acquires 4,795 Shares of The Kraft Heinz Company (NASDAQ:KHC)

OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,560 shares of the company’s stock after purchasing an additional 4,795 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Kraft Heinz were worth $1,168,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fortitude Family Office LLC increased its stake in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz in the first quarter valued at $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Kraft Heinz during the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. boosted its position in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares in the last quarter. Finally, Asset Dedication LLC grew its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after buying an additional 476 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Down 1.6 %

Shares of NASDAQ:KHC opened at $32.00 on Wednesday. The company has a market capitalization of $38.69 billion, a PE ratio of 28.83, a price-to-earnings-growth ratio of 3.71 and a beta of 0.49. The business has a fifty day moving average price of $34.86 and a two-hundred day moving average price of $34.59. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The Kraft Heinz Company has a 1 year low of $31.58 and a 1 year high of $38.96.

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

Kraft Heinz Dividend Announcement

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

Analyst Upgrades and Downgrades

KHC has been the topic of several recent research reports. JPMorgan Chase & Co. cut their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Piper Sandler cut their target price on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday, October 31st. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Citigroup dropped their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $37.25.

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.