First Hawaiian Bank Purchases 931 Shares of The Kraft Heinz Company (NASDAQ:KHC)

First Hawaiian Bank lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 9.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,887 shares of the company’s stock after purchasing an additional 931 shares during the period. First Hawaiian Bank’s holdings in Kraft Heinz were worth $351,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Kraft Heinz by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after acquiring an additional 183,234 shares during the last quarter. Capital World Investors grew its stake in shares of Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after purchasing an additional 3,961,872 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Kraft Heinz by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock valued at $169,268,000 after purchasing an additional 137,169 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 period. Finally, Nordea Investment Management AB raised its position in Kraft Heinz by 56.7% during the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after purchasing an additional 1,027,636 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Ratings Changes

KHC has been the subject of several recent analyst reports. Piper Sandler decreased 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 report on Thursday, June 20th. Evercore ISI cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Barclays increased their price target on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price objective on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company lifted their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Seven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $37.58.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.28 during midday trading on Tuesday, hitting $34.92. The company’s stock had a trading volume of 4,184,246 shares, compared to its average volume of 8,074,702. The firm has a market capitalization of $42.22 billion, a price-to-earnings ratio of 15.37, a P/E/G ratio of 3.52 and a beta of 0.53. The company has a current ratio of 1.01, a quick ratio of 0.61 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average price of $33.33 and a 200 day moving average price of $35.27. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96.

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

Kraft Heinz Dividend Announcement

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

Kraft Heinz Company 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.