Voya Investment Management LLC Cuts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Voya Investment Management LLC lessened its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 65.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 723,184 shares of the company's stock after selling 1,347,773 shares during the period. Voya Investment Management LLC owned approximately 0.06% of Kraft Heinz worth $22,209,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KHC. Sawyer & Company Inc bought a new stake in shares of Kraft Heinz during the fourth quarter worth $25,000. Generali Investments Management Co LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Kraft Heinz during the fourth quarter worth about $29,000. R Squared Ltd bought a new stake in Kraft Heinz during the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management acquired a new position in Kraft Heinz in the 4th quarter valued at approximately $36,000. 78.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KHC. StockNews.com raised Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Piper Sandler cut their price objective on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, February 13th. Stifel Nicolaus lowered their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday. Mizuho lowered shares of Kraft Heinz from an "outperform" rating to a "neutral" rating and reduced their price objective for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Finally, Citigroup reissued a "sell" rating and set a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Four research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat, Kraft Heinz presently has an average rating of "Hold" and a consensus target price of $30.63.

Kraft Heinz Stock Up 0.8 %

Shares of KHC traded up $0.23 on Wednesday, reaching $29.10. The company's stock had a trading volume of 8,551,736 shares, compared to its average volume of 9,155,407. 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 firm has a fifty day moving average of $30.02 and a 200-day moving average of $30.81. The stock has a market capitalization of $34.73 billion, a PE ratio of 12.88, a PEG ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.72.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the company posted $0.69 earnings per share. Kraft Heinz's revenue was down 6.4% compared to the same quarter last year. Equities analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.50%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's payout ratio is 70.80%.

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.