Sterling Capital Management LLC reduced its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 83.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,580 shares of the company's stock after selling 13,165 shares during the quarter. Sterling Capital Management LLC's holdings in Kraft Heinz were worth $79,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock worth $2,779,524,000 after buying an additional 14,996,486 shares during the last quarter. Norges Bank purchased a new position in Kraft Heinz during the 4th quarter worth $324,857,000. Thompson Siegel & Walmsley LLC raised its position in Kraft Heinz by 96.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,858,253 shares of the company's stock worth $87,777,000 after buying an additional 1,403,220 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Kraft Heinz during the 4th quarter worth $39,339,000. Finally, Nordea Investment Management AB grew its stake in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.
Analyst Ratings Changes
A number of research firms have recently weighed in on KHC. Wells Fargo & Company lowered their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Barclays lowered their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Stifel Nicolaus lowered their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Mizuho cut shares of Kraft Heinz from an "outperform" rating to a "neutral" rating and lowered their price target for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Finally, Sanford C. Bernstein cut shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $30.69.
Get Our Latest Report on Kraft Heinz
Kraft Heinz Trading Down 2.3 %
NASDAQ:KHC traded down $0.68 on Monday, reaching $28.81. The stock had a trading volume of 19,234,871 shares, compared to its average volume of 9,132,235. The company has a market cap of $34.38 billion, a price-to-earnings ratio of 12.75, a P/E/G ratio of 3.39 and a beta of 0.44. 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's fifty day moving average is $30.05 and its two-hundred day moving average is $30.83. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.72.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Equities analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.
Kraft Heinz Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.55%. Kraft Heinz's payout ratio is currently 70.80%.
About Kraft Heinz
(
Free Report)
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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