The Manufacturers Life Insurance Company Sells 14,042 Shares of The Kraft Heinz Company (NASDAQ:KHC)

The Manufacturers Life Insurance Company cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 530,596 shares of the company's stock after selling 14,042 shares during the period. The Manufacturers Life Insurance Company's holdings in Kraft Heinz were worth $16,295,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. StockNews.com raised Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Jefferies Financial Group decreased their target price on shares of Kraft Heinz from $34.00 to $30.00 and set a "hold" rating on the stock in a research report on Wednesday, January 29th. Cfra Research lowered Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. JPMorgan Chase & Co. dropped their price target on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Piper Sandler lowered their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of "Hold" and an average target price of $30.63.

Kraft Heinz Stock Up 0.9 %

Kraft Heinz stock traded up $0.26 during mid-day trading on Thursday, reaching $28.49. The company's stock had a trading volume of 8,211,557 shares, compared to its average volume of 9,114,439. The business's 50 day simple moving average is $29.73 and its 200 day simple moving average is $30.55. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $36.70. The company has a market capitalization of $33.72 billion, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30.

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

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.62%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's dividend payout ratio is currently 73.06%.

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.