Truist Financial Corp Has $11.34 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Truist Financial Corp grew its position in The Kraft Heinz Company (NASDAQ:KHC) by 25.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,704 shares of the company’s stock after buying an additional 61,651 shares during the quarter. Truist Financial Corp’s holdings in Kraft Heinz were worth $11,342,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. FSC Wealth Advisors LLC grew its position in Kraft Heinz by 23.4% during the 4th quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock worth $53,000 after purchasing an additional 270 shares in the last quarter. Archer Investment Corp raised its position in Kraft Heinz by 2.0% during the fourth quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock valued at $544,000 after buying an additional 294 shares during the period. Ingalls & Snyder LLC lifted its stake in Kraft Heinz by 3.1% in the 4th quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock worth $370,000 after acquiring an additional 300 shares in the last quarter. Econ Financial Services Corp boosted its position in Kraft Heinz by 0.6% during the 3rd quarter. Econ Financial Services Corp now owns 53,310 shares of the company’s stock worth $1,793,000 after acquiring an additional 310 shares during the period. Finally, Kennedy Investment Group grew its stake in Kraft Heinz by 1.1% during the 4th quarter. Kennedy Investment Group now owns 29,199 shares of the company’s stock valued at $1,080,000 after acquiring an additional 319 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KHC has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Wells Fargo & Company lowered their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Citigroup started coverage on Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective for the company. Finally, Bank of America boosted their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $40.57.

Kraft Heinz Stock Down 6.0 %

KHC opened at $36.28 on Thursday. The firm has a market cap of $44.10 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 3.05 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The business has a 50 day moving average price of $36.34 and a 200 day moving average price of $35.74. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $41.47.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The business had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same period in the previous year, the company earned $0.85 earnings per share. Kraft Heinz’s revenue for the quarter was down 7.1% on a year-over-year basis. Research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.41%. Kraft Heinz’s dividend payout ratio is currently 69.26%.

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.