Alliancebernstein L.P. Has $27.26 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Alliancebernstein L.P. trimmed its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 19.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 887,757 shares of the company's stock after selling 208,471 shares during the quarter. Alliancebernstein L.P. owned 0.07% of Kraft Heinz worth $27,263,000 at the end of the most recent reporting period.

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

Kraft Heinz Trading Up 1.7 %

Shares of Kraft Heinz stock traded up $0.49 on Friday, hitting $29.33. 9,710,435 shares of the company's stock traded hands, compared to its average volume of 9,036,577. The company has a market capitalization of $35.00 billion, a price-to-earnings ratio of 12.98, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The company has a fifty day moving average of $29.95 and a two-hundred day moving average of $31.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

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Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company 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 5.46%. Kraft Heinz's dividend payout ratio is 70.80%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. UBS Group reduced their price objective on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Morgan Stanley initiated coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an "underweight" rating and a $29.00 price objective for the company. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. TD Cowen decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Finally, StockNews.com upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $30.67.

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.