The Vanguard Group, Inc. recently announced the acquisition of new stake in The Kraft Heinz Company (NASDAQ:KHC). The institutional investor has increased its shareholding in the Consumer Defensive company by 15.69% to 64.32 million shares with purchase of 8.73 million shares. This fresh investment now brings its stake to 5.25% valued currently at $2.47 billion. In addition, SSgA Funds Management, Inc. raised its holdings by 2.79 million to 36.74 million shares. And BlackRock Fund Advisors has lifted its position by 7.85% or 2.5 million shares – to 34.42 million shares.
With over 6.36 million The Kraft Heinz Company (KHC) shares trading Tuesday and a closing price of $38.96 on the day, the dollar volume was approximately $247.82 million. The shares have shown a negative half year performance of -1.64% and its price on 11/22/22 gained nearly 1.35%. Currently, there are 1.23B common shares owned by the public and among those 781.45M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 21 analysts who have offered their price forecasts for KHC have a consensus price objective of $42.18. The analysts have set the share’s price value over the next 12 months at a high of $48.00 and a low of $36.00. The average price target is 7.26% above its recent price level and a downside to the estimated low will see the stock lose -8.22% over that period. But an upside of 18.83% will see the stock hit the forecast high price target while median target price for the stock is $42.00.
Insiders at the company have transacted a total of 107 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 68 of these insider trades were purchases, accounting for 807,184 shares. Insider sales of the common stock occurred on 39 occasions, with total insider shares sold totaling 89,045,220 shares.
The top 3 mutual fund holders in The Kraft Heinz Company are Vanguard Total Stock Market Index, American Funds Income Fund of Ame, and Vanguard 500 Index Fund. Vanguard Total Stock Market Index owns 23.92 million shares of the company’s stock, all valued at over $920.05 million. The company bought an additional 0.12 million shares recently to bring their total holdings to about 1.95% of the shares outstanding. American Funds Income Fund of Ame sold -6.98 million shares to see its total holdings shrink to 19.36 million shares valued at over $744.61 million and representing 1.58% of the shares outstanding. Vanguard 500 Index Fund bought 0.18 million shares to bring its total holdings to over 18.22 million shares at a value of $701.03 million. Vanguard 500 Index Fund now owns shares totaling to 1.49% of the shares outstanding.
Shares of The Kraft Heinz Company (NASDAQ: KHC) opened at $38.62, up $0.18 from a prior closing price of $38.44. However, the script later moved the day high at 39.06, up 1.35%. The company’s stock has a 5-day price change of 5.18% and 0.13% over the past three months. KHC shares are trading 8.52% year to date (YTD), with the 12-month market performance up to 9.84% higher. It has a 12-month low price of $32.73 and touched a high of $44.87 over the same period. KHC has an average intraday trading volume of 7.98 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.01%, 8.59%, and 2.29% respectively.
Institutional ownership of The Kraft Heinz Company (NASDAQ: KHC) shares accounts for 78.30% of the company’s 1.23B shares outstanding. Mutual fund holders own 26.04%, while other institutional holders and individual stakeholders account for 44.42% and 10.01% respectively.
It has a market capitalization of $47.28B and a beta (3y monthly) value of 0.77. The stock’s trailing 12-month PE ratio is 49.25, while the earnings-per-share (ttm) stands at $0.79. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.38% over the week and 2.41% over the month.
Analysts forecast that The Kraft Heinz Company (KHC) will achieve an EPS of $0.77 for the current quarter, $0.61 for the next quarter and $2.76 for 2023. The lowest estimate earnings-per-share for the quarter is $0.74 while analysts give the company a high EPS estimate of $0.82. Comparatively, EPS for the current quarter was $0.79 a year ago. Earnings per share for the fiscal year are expected to increase by 180.70%, and 2.00% over the next financial year. EPS should grow at an annualized rate of -1.30% over the next five years, compared to -25.80% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 21 brokerage firm advisors rate The Kraft Heinz Company (KHC) as a “Moderate Buy” at a consensus score of 2.70. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 12 of the 21 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the KHC, a number of firms have released research notes about the stock. Exane BNP Paribas stated their Neutral rating for the stock in a research note on November 15, 2022, with the firm’s price target at $39. Goldman coverage for the The Kraft Heinz Company (KHC) stock in a research note released on October 10, 2022 offered a Buy rating with a price target of $43. UBS was of a view on September 29, 2022 that the stock is Neutral, while Stifel gave the stock Buy rating on July 28, 2022, issuing a price target of $43. Goldman on their part issued Neutral rating on July 28, 2022.