Allspring Global Investments Holdings LLC Sells 385,086 Shares of Kraft Heinz Company (NASDAQ:KHC)

Allspring Global Investments Holdings LLC reduced its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 74.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 132,456 shares of the company's stock after selling 385,086 shares during the period. Allspring Global Investments Holdings LLC's holdings in Kraft Heinz were worth $4,019,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of KHC. Headlands Technologies LLC acquired a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $2,048,000. Versant Capital Management Inc increased its position in Kraft Heinz by 493.4% during the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock worth $376,000 after buying an additional 10,272 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of 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 last quarter. GAMMA Investing LLC lifted its holdings in shares of Kraft Heinz by 28.1% during the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock worth $481,000 after purchasing an additional 3,468 shares during the period. Finally, Park Avenue Securities LLC increased its position in Kraft Heinz by 35.4% during the 1st 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 and hedge funds own 78.17% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Cfra Research downgraded shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Citigroup reissued a "sell" rating and issued a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a research note on Friday, May 9th. Morgan Stanley assumed coverage on Kraft Heinz in a research report on Monday, March 24th. They issued an "underweight" rating and a $29.00 target price on the stock. Finally, Mizuho set a $29.00 target price on Kraft Heinz and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. According to MarketBeat, Kraft Heinz presently has an average rating of "Hold" and an average price target of $30.29.

Kraft Heinz Trading Up 0.1%

Shares of KHC stock traded up $0.02 during mid-day trading on Wednesday, reaching $26.45. 13,830,036 shares of the stock traded hands, compared to its average volume of 10,145,274. The stock's fifty day simple moving average is $26.87 and its two-hundred day simple moving average is $28.80. The company has a market cap of $31.30 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 3.09 and a beta of 0.25. Kraft Heinz Company has a 1-year low of $25.44 and a 1-year high of $36.53. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the business posted $0.69 EPS. The business's revenue was down 6.4% compared to the same quarter last year. On average, research analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were given a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 6.05%. Kraft Heinz's dividend payout ratio is currently 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.