Comerica Bank Sells 33,103 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Comerica Bank decreased its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 23.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 109,607 shares of the company's stock after selling 33,103 shares during the quarter. Comerica Bank's holdings in Kraft Heinz were worth $3,366,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of KHC. Brookstone Capital Management boosted its position in shares of Kraft Heinz by 229.8% during the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company's stock valued at $10,530,000 after buying an additional 238,913 shares during the last quarter. Headlands Technologies LLC purchased a new position in Kraft Heinz during the 4th quarter worth $2,048,000. FLC Capital Advisors boosted its holdings in Kraft Heinz by 121.0% during the 4th quarter. FLC Capital Advisors now owns 18,653 shares of the company's stock worth $573,000 after acquiring an additional 10,214 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Kraft Heinz by 511.7% in the 4th quarter. SG Americas Securities LLC now owns 42,706 shares of the company's stock worth $1,312,000 after acquiring an additional 35,725 shares in the last quarter. Finally, 1834 Investment Advisors Co. purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $470,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

KHC has been the topic of several analyst reports. Stifel Nicolaus cut their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. UBS Group cut their target price on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. DZ Bank lowered Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a report on Friday. Finally, 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 report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $30.65.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock traded down $0.44 during trading hours on Tuesday, reaching $27.71. The company had a trading volume of 8,082,029 shares, compared to its average volume of 9,163,548. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $36.70. The business has a fifty day simple moving average of $29.56 and a 200 day simple moving average of $30.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $32.80 billion, a PE ratio of 12.26, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The business's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.69 EPS. On average, analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.77%. The ex-dividend date is Friday, May 30th. Kraft Heinz's payout ratio is 73.06%.

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.