Eagle Rock Investment Company LLC Has $364,000 Stake in The Kraft Heinz Company (NASDAQ:KHC)

Eagle Rock Investment Company LLC lessened its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 79.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,869 shares of the company's stock after selling 44,830 shares during the period. Eagle Rock Investment Company LLC's holdings in Kraft Heinz were worth $364,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. State Street Corp raised its position in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company's stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC raised its holdings in Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company's stock worth $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz during the 3rd quarter valued at about $411,304,000. Legal & General Group Plc boosted its stake in shares of Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company's stock valued at $292,061,000 after purchasing an additional 799,581 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in shares of Kraft Heinz by 16.3% during 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 period. Institutional investors and hedge funds own 78.17% of the company's stock.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.37% of the stock is owned by corporate insiders.

Kraft Heinz Stock Up 1.0 %

Shares of KHC stock traded up $0.30 during trading hours on Friday, hitting $29.27. 7,978,023 shares of the company were exchanged, compared to its average volume of 9,579,060. The Kraft Heinz Company has a 52 week low of $28.37 and a 52 week high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The business has a 50 day moving average of $30.87 and a two-hundred day moving average of $33.22. The company has a market capitalization of $35.39 billion, a PE ratio of 26.37, a PEG ratio of 3.29 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company's revenue was down 2.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.72 EPS. Analysts anticipate that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.47%. Kraft Heinz's dividend payout ratio is currently 144.14%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KHC. Piper Sandler restated a "neutral" rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Barclays reduced their price target on Kraft Heinz from $36.00 to $35.00 and set an "equal weight" rating on the stock in a research report on Friday, November 1st. TD Cowen dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a "buy" rating to a "hold" rating and reduced their target price for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $35.23.

About Kraft Heinz

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.