Arrowstreet Capital Limited Partnership Lowers Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Arrowstreet Capital Limited Partnership reduced its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 16.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,295,172 shares of the company's stock after selling 1,248,333 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.52% of Kraft Heinz worth $193,325,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KHC. Sawyer & Company Inc acquired a new position in Kraft Heinz during the fourth quarter worth about $25,000. Generali Investments Management Co LLC bought a new stake in Kraft Heinz during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Kraft Heinz in the fourth quarter valued at about $29,000. Larson Financial Group LLC increased its position in shares of Kraft Heinz by 191.0% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company's stock valued at $34,000 after acquiring an additional 636 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Kraft Heinz during the 4th quarter worth about $34,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Shares of KHC traded up $0.76 during mid-day trading on Thursday, reaching $30.89. The company had a trading volume of 7,480,587 shares, compared to its average volume of 10,620,351. The company's 50 day simple moving average is $30.05 and its 200 day simple moving average is $31.60. The company has a market capitalization of $36.86 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.18%. The ex-dividend date was Friday, March 7th. Kraft Heinz's dividend payout ratio is currently 70.80%.

Analyst Ratings Changes

Several analysts recently commented on the company. UBS Group reduced their target price on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Morgan Stanley started coverage on Kraft Heinz in a report on Monday, March 24th. They set an "underweight" rating and a $29.00 price target on the stock. Jefferies Financial Group reduced their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a "hold" rating for the company in a research report on Wednesday, January 29th. Piper Sandler cut their price target on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com raised shares of Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Three research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $30.73.

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.