Allspring Global Investments Holdings LLC Trims Stock Position in Kraft Heinz Company $KHC

Allspring Global Investments Holdings LLC lowered its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 70.5% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,057 shares of the company's stock after selling 93,399 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Kraft Heinz were worth $1,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Rossby Financial LCC purchased a new stake in shares of Kraft Heinz during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Kraft Heinz during the 1st quarter valued at about $33,000. Investment Management Corp VA ADV increased its position in shares of Kraft Heinz by 141.7% during the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock valued at $35,000 after purchasing an additional 669 shares during the last quarter. Banque Transatlantique SA purchased a new stake in shares of Kraft Heinz during the 1st quarter valued at about $40,000. Finally, Golden State Wealth Management LLC increased its position in shares of Kraft Heinz by 115.5% during the 1st quarter. Golden State Wealth Management LLC now owns 1,554 shares of the company's stock valued at $47,000 after purchasing an additional 833 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Trading Up 0.2%

KHC stock opened at $25.64 on Thursday. Kraft Heinz Company has a 1-year low of $24.80 and a 1-year high of $35.72. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The company has a market capitalization of $30.35 billion, a price-to-earnings ratio of -5.71, a PEG ratio of 3.00 and a beta of 0.16. The business has a 50 day simple moving average of $26.42 and a two-hundred day simple moving average of $27.17.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The business had revenue of $6.39 billion during the quarter. Research analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date was Friday, August 29th. Kraft Heinz's dividend payout ratio is currently -35.63%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KHC shares. Barclays cut their price objective on Kraft Heinz from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, October 10th. Weiss Ratings reiterated a "sell (d)" rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. JPMorgan Chase & Co. started coverage on Kraft Heinz in a research note on Wednesday, August 20th. They set a "neutral" rating and a $27.00 price objective for the company. Morgan Stanley cut their price objective on Kraft Heinz from $29.00 to $28.00 in a research note on Thursday, October 16th. Finally, Jefferies Financial Group cut their price objective on Kraft Heinz from $28.00 to $24.00 and set a "hold" rating for the company in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus target price of $28.65.

Kraft Heinz Company 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.

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