Allspring Global Investments Holdings LLC Reduces Stake in Kraft Heinz Company (NASDAQ:KHC)

Allspring Global Investments Holdings LLC lowered its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 74.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 132,456 shares of the company's stock after selling 385,086 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Kraft Heinz were worth $4,019,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new position in Kraft Heinz in the fourth quarter valued at about $2,048,000. Versant Capital Management Inc raised its stake in Kraft Heinz by 493.4% in the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock valued at $376,000 after buying an additional 10,272 shares during the period. Farther Finance Advisors LLC raised its stake in Kraft Heinz by 58.3% in the first quarter. Farther Finance Advisors LLC now owns 22,111 shares of the company's stock valued at $671,000 after buying an additional 8,144 shares during the period. GAMMA Investing LLC raised its stake in Kraft Heinz by 28.1% in the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock valued at $481,000 after buying an additional 3,468 shares during the period. Finally, Park Avenue Securities LLC increased its stake in shares of Kraft Heinz by 35.4% during the first quarter. Park Avenue Securities LLC now owns 26,041 shares of the company's stock worth $792,000 after purchasing an additional 6,815 shares during the period. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Up 0.1%

Kraft Heinz stock traded up $0.02 during trading on Thursday, hitting $26.47. 15,765,325 shares of the company were exchanged, compared to its average volume of 10,167,893. The business's 50 day moving average is $26.81 and its 200 day moving average is $28.78. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. Kraft Heinz Company has a 52 week low of $25.44 and a 52 week high of $36.53. The company has a market capitalization of $31.33 billion, a P/E ratio of 12.09, a PEG ratio of 3.09 and a beta of 0.25.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.02 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business's revenue was down 6.4% on a year-over-year basis. Analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.04%. Kraft Heinz's dividend payout ratio is presently 73.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on KHC shares. Wall Street Zen upgraded Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Sanford C. Bernstein downgraded Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price objective on Kraft Heinz from $30.00 to $27.00 and set an "equal weight" rating on the stock in a report on Wednesday. Stifel Nicolaus lowered their target price on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Finally, Mizuho set a $29.00 target price on Kraft Heinz and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.29.

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.