Ethic Inc. trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 37.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,415 shares of the company's stock after selling 15,267 shares during the period. Ethic Inc.'s holdings in Kraft Heinz were worth $780,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Sawyer & Company Inc bought a new position in Kraft Heinz in the fourth quarter worth about $25,000. Generali Investments Management Co LLC acquired a new position in Kraft Heinz during the 4th quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in Kraft Heinz during the 4th quarter worth $29,000. R Squared Ltd acquired a new stake in Kraft Heinz in the fourth quarter worth $34,000. Finally, OFI Invest Asset Management bought a new stake in Kraft Heinz in the fourth quarter valued at $36,000. 78.17% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities analysts have recently commented on KHC shares. Sanford C. Bernstein lowered 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 report on Tuesday, April 22nd. Piper Sandler decreased their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company cut their price target on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Barclays lowered their target price on Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. Finally, Cfra Research lowered Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Four equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of "Hold" and a consensus target price of $30.65.
Check Out Our Latest Stock Report on Kraft Heinz
Kraft Heinz Trading Down 1.5%
Shares of KHC opened at $27.17 on Thursday. The business's 50-day moving average price is $29.38 and its 200 day moving average price is $30.29. 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 stock has a market capitalization of $32.16 billion, a P/E ratio of 12.02, a P/E/G ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a 1-year low of $27.14 and a 1-year high of $36.53.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period last year, the firm posted $0.69 earnings per share. The firm's quarterly revenue was down 6.4% compared to the same quarter last year. Analysts expect that The Kraft Heinz Company will post 2.68 earnings per share 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 dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.89%. The ex-dividend date is Friday, May 30th. Kraft Heinz's payout ratio is 73.06%.
Kraft Heinz Profile
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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.
Further Reading
Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kraft Heinz Company (NASDAQ:KHC - Free Report).
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