Cladis Investment Advisory LLC Sells 9,040 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Cladis Investment Advisory LLC lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 24.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,370 shares of the company's stock after selling 9,040 shares during the period. Cladis Investment Advisory LLC's holdings in Kraft Heinz were worth $871,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Deutsche Bank AG lifted its position in shares of Kraft Heinz by 10.2% in the fourth quarter. Deutsche Bank AG now owns 5,205,325 shares of the company's stock valued at $159,856,000 after acquiring an additional 482,300 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Kraft Heinz by 0.5% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 656,723 shares of the company's stock worth $20,168,000 after buying an additional 2,986 shares during the period. EP Wealth Advisors LLC increased its holdings in Kraft Heinz by 4.4% in the 4th quarter. EP Wealth Advisors LLC now owns 58,118 shares of the company's stock valued at $1,785,000 after purchasing an additional 2,423 shares in the last quarter. Cornerstone Select Advisors LLC purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at about $537,000. Finally, Brevan Howard Capital Management LP acquired a new stake in Kraft Heinz during the 4th quarter valued at $2,436,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Trading Down 1.7%

Shares of Kraft Heinz stock traded down $0.49 on Tuesday, hitting $27.66. The stock had a trading volume of 10,868,594 shares, compared to its average volume of 10,707,962. The stock has a 50 day moving average of $29.56 and a 200 day moving average of $30.34. The firm has a market capitalization of $32.74 billion, a P/E ratio of 12.24, a PEG ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $36.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The business's revenue was down 6.4% compared to the same quarter last year. Sell-side analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.78%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Piper Sandler cut their price objective on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Barclays cut their price target on Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Citigroup reissued a "sell" rating and set a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Cfra Research cut shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, The Goldman Sachs Group lowered their price target on Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $30.65.

About Kraft Heinz

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.