Steel Grove Capital Advisors LLC Sells 39,849 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Steel Grove Capital Advisors LLC trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 80.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 9,457 shares of the company's stock after selling 39,849 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in Kraft Heinz were worth $290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Te Ahumairangi Investment Management Ltd boosted its holdings in shares of Kraft Heinz by 8.2% during the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 188,140 shares of the company's stock valued at $6,568,000 after acquiring an additional 14,300 shares in the last quarter. World Investment Advisors LLC raised its holdings in Kraft Heinz by 30.9% during the third quarter. World Investment Advisors LLC now owns 8,861 shares of the company's stock worth $311,000 after buying an additional 2,094 shares during the last quarter. Wilmington Savings Fund Society FSB grew its stake in shares of Kraft Heinz by 754.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 128,589 shares of the company's stock worth $4,515,000 after acquiring an additional 113,538 shares in the last quarter. Tidal Investments LLC increased its position in shares of Kraft Heinz by 3.5% during the 3rd quarter. Tidal Investments LLC now owns 84,675 shares of the company's stock valued at $2,973,000 after purchasing an additional 2,889 shares during the last quarter. Finally, Peapack Gladstone Financial Corp grew its holdings in Kraft Heinz by 13.3% during the third quarter. Peapack Gladstone Financial Corp now owns 59,554 shares of the company's stock valued at $2,091,000 after purchasing an additional 7,004 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Price Performance

Shares of KHC traded down $0.41 during trading hours on Monday, reaching $29.09. 5,794,563 shares of the stock traded hands, compared to its average volume of 9,079,619. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The company's 50-day moving average price is $30.07 and its two-hundred day moving average price is $30.87. The company has a market cap of $34.71 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.72.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors 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 yield of 5.50%. Kraft Heinz's payout ratio is presently 70.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on KHC shares. Morgan Stanley initiated coverage on shares of Kraft Heinz in a report on Monday, March 24th. They issued an "underweight" rating and a $29.00 price target on the stock. Sanford C. Bernstein downgraded shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. reduced their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. UBS Group dropped their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Finally, Barclays reduced their price target on Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating for the company in a report on Friday, February 14th. Four research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.69.

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.