CANADA LIFE ASSURANCE Co Sells 77,356 Shares of The Kraft Heinz Company (NASDAQ:KHC)

CANADA LIFE ASSURANCE Co lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 6.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,088,030 shares of the company's stock after selling 77,356 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.09% of Kraft Heinz worth $33,395,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in KHC. Brookstone Capital Management boosted its holdings in Kraft Heinz by 229.8% in the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company's stock worth $10,530,000 after purchasing an additional 238,913 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Kraft Heinz during the 4th quarter valued at $2,048,000. Nordea Investment Management AB boosted its stake in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock worth $269,906,000 after buying an additional 1,238,200 shares during the last quarter. FLC Capital Advisors grew its holdings in shares of Kraft Heinz by 121.0% in the fourth quarter. FLC Capital Advisors now owns 18,653 shares of the company's stock worth $573,000 after acquiring an additional 10,214 shares during the period. Finally, SG Americas Securities LLC increased its position in Kraft Heinz by 511.7% during the fourth quarter. SG Americas Securities LLC now owns 42,706 shares of the company's stock valued at $1,312,000 after acquiring an additional 35,725 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. The Goldman Sachs Group cut their price target on Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a research note on Thursday, February 13th. TD Cowen cut their target price 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. Evercore ISI reaffirmed an "in-line" rating and set a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Piper Sandler reduced their price objective 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, Mizuho cut Kraft Heinz from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $38.00 to $31.00 in a report on Monday, February 10th. Four analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $30.67.

Kraft Heinz Price Performance

KHC traded up $0.48 during trading on Monday, reaching $29.94. 6,918,084 shares of the company traded hands, compared to its average volume of 9,051,726. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The firm has a fifty day simple moving average of $30.01 and a 200 day simple moving average of $31.01. 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 company has a market cap of $35.73 billion, a P/E ratio of 13.25, a PEG ratio of 3.39 and a beta of 0.44.

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, 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%. On average, equities analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.34%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz's payout ratio is 70.80%.

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.