TCW Group Inc. Makes New $1.10 Million Investment in The Kraft Heinz Company (NASDAQ:KHC)

TCW Group Inc. purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 29,787 shares of the company’s stock, valued at approximately $1,098,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in KHC. Raymond James Trust N.A. grew its stake in shares of Kraft Heinz by 11.0% during the fourth quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock worth $1,465,000 after buying an additional 3,916 shares during the last quarter. Cutter & CO Brokerage Inc. grew its position in Kraft Heinz by 6.6% during the 4th quarter. Cutter & CO Brokerage Inc. now owns 13,857 shares of the company’s stock worth $512,000 after acquiring an additional 864 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in Kraft Heinz in the 3rd quarter worth about $5,399,000. Dimensional Fund Advisors LP raised its position 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 purchasing an additional 474,758 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of Kraft Heinz by 16.3% during the third quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock valued at $59,478,000 after purchasing an additional 247,896 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Trading Up 0.1 %

Shares of Kraft Heinz stock traded up $0.05 on Friday, hitting $35.85. 5,700,622 shares of the company’s stock traded hands, compared to its average volume of 7,366,014. The company has a fifty day moving average of $36.64 and a two-hundred day moving average of $36.20. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a market capitalization of $43.53 billion, a price-to-earnings ratio of 15.66, a price-to-earnings-growth ratio of 2.87 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) 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 analyst estimates 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 previous year, the firm earned $0.68 earnings per share. As a group, sell-side analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Insider Activity

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction that occurred 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 owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on KHC shares. Wells Fargo & Company lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Bank of America raised their price target 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. Piper Sandler raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their target price on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Citigroup started coverage on Kraft Heinz in a research report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price target on the stock. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Moderate Buy” and an average price target of $40.08.

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.