Sumitomo Mitsui Trust Holdings Inc. Has $95.80 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,596,241 shares of the company’s stock after selling 41,147 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.21% of Kraft Heinz worth $95,801,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of KHC. Schonfeld Strategic Advisors LLC acquired a new stake in shares of Kraft Heinz during the 3rd quarter valued at $743,000. Advisors Asset Management Inc. boosted its stake in shares of Kraft Heinz by 57.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 16,434 shares of the company’s stock valued at $553,000 after buying an additional 5,975 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of Kraft Heinz by 19.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,405,984 shares of the company’s stock valued at $80,933,000 after buying an additional 387,389 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of Kraft Heinz by 23.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 793,832 shares of the company’s stock valued at $26,705,000 after purchasing an additional 149,100 shares during the last quarter. Finally, Lido Advisors LLC lifted its stake in shares of Kraft Heinz by 7.8% in the 3rd quarter. Lido Advisors LLC now owns 9,392 shares of the company’s stock valued at $316,000 after purchasing an additional 676 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KHC. Wells Fargo & Company reduced their price objective on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research note on Thursday, June 27th. Piper Sandler reduced their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Finally, Bank of America lifted their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Moderate Buy” and a consensus price target of $39.75.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the transaction, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $32.09 on Thursday. The firm’s 50-day moving average is $34.94 and its 200-day moving average is $35.95. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-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 cap of $38.97 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.58 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the previous year, the firm posted $0.68 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. Equities research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were issued 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.