Brandywine Global Investment Management LLC lowered its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,360,605 shares of the company's stock after selling 50,341 shares during the period. Brandywine Global Investment Management LLC owned 0.11% of Kraft Heinz worth $41,784,000 as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in KHC. Summit Securities Group LLC bought a new stake in Kraft Heinz during the 4th quarter valued at $66,000. Cornercap Investment Counsel Inc. increased its position in shares of Kraft Heinz by 37.9% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 51,748 shares of the company's stock worth $1,589,000 after acquiring an additional 14,232 shares in the last quarter. Allstate Corp acquired a new stake in shares of Kraft Heinz in the 4th quarter worth about $824,000. Maridea Wealth Management LLC bought a new position in Kraft Heinz in the 4th quarter valued at about $483,000. Finally, New Age Alpha Advisors LLC boosted its stake in Kraft Heinz by 7,796.5% during the 4th quarter. New Age Alpha Advisors LLC now owns 34,192 shares of the company's stock valued at $1,050,000 after purchasing an additional 33,759 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.
Kraft Heinz Stock Performance
Shares of NASDAQ KHC traded up $0.81 during mid-day trading on Thursday, hitting $30.94. The company had a trading volume of 6,250,162 shares, compared to its average volume of 8,776,536. The stock's 50-day moving average price is $30.05 and its 200-day moving average price is $31.60. The company has a market capitalization of $36.92 billion, a price-to-earnings ratio of 13.69, a P/E/G ratio of 3.39 and a beta of 0.44. 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 Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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%. On average, sell-side analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current year.
Kraft Heinz Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.17%. Kraft Heinz's dividend payout ratio is currently 70.80%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on KHC. Piper Sandler cut their target price on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. lowered their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Mizuho lowered shares of Kraft Heinz from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $38.00 to $31.00 in a research report on Monday, February 10th. Evercore ISI reaffirmed an "in-line" rating and issued a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Finally, StockNews.com raised Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Three equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $30.73.
Check Out Our Latest Stock Analysis on KHC
Kraft Heinz Company 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.
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