Capital World Investors Reduces Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Capital World Investors trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 73.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,351,000 shares of the company's stock after selling 9,101,416 shares during the quarter. Capital World Investors owned 0.28% of Kraft Heinz worth $102,909,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on KHC. Mizuho downgraded 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 research report on Monday, February 10th. Evercore ISI reissued 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. Cfra Research lowered shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Bank of America downgraded shares of Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their price target for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price objective on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has an average rating of "Hold" and a consensus price target of $30.69.

Kraft Heinz Stock Down 0.5 %

NASDAQ KHC traded down $0.15 on Friday, hitting $29.49. The stock had a trading volume of 8,152,654 shares, compared to its average volume of 9,067,238. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The business's fifty day moving average price is $30.06 and its 200 day moving average price is $30.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The stock has a market cap of $35.19 billion, a price-to-earnings ratio of 13.05, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44.

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

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.43%. Kraft Heinz's payout ratio is presently 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.