Canada Pension Plan Investment Board Has $61.02 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Canada Pension Plan Investment Board increased its position in The Kraft Heinz Company (NASDAQ:KHC) by 6.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,893,968 shares of the company’s stock after buying an additional 119,200 shares during the period. Canada Pension Plan Investment Board owned 0.16% of Kraft Heinz worth $61,024,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Kraft Heinz by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after buying an additional 183,234 shares during the last quarter. LSV Asset Management lifted its holdings in Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after purchasing an additional 189,000 shares during the last quarter. Capital World Investors grew its holdings in Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after purchasing an additional 3,961,872 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares during the period. Finally, Cooke & Bieler LP lifted its stake in shares of Kraft Heinz by 4.7% in the second quarter. Cooke & Bieler LP now owns 3,402,510 shares of the company’s stock worth $109,629,000 after buying an additional 153,490 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Kraft Heinz Trading Down 0.1 %

KHC stock opened at $34.96 on Friday. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $34.80 and its 200-day moving average is $35.04. The firm has a market cap of $42.45 billion, a P/E ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.79 EPS. Equities analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.58%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KHC. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company increased their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Piper Sandler dropped their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays boosted their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $37.50.

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.