Edgar Lomax Co. VA Reduces Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Edgar Lomax Co. VA lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 703,830 shares of the company's stock after selling 16,680 shares during the period. Kraft Heinz accounts for approximately 1.4% of Edgar Lomax Co. VA's holdings, making the stock its 28th biggest position. Edgar Lomax Co. VA owned 0.06% of Kraft Heinz worth $21,615,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sawyer & Company Inc purchased a new position in Kraft Heinz in the 4th quarter worth about $25,000. Generali Investments Management Co LLC purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in Kraft Heinz during the fourth quarter valued at approximately $29,000. R Squared Ltd purchased a new stake in Kraft Heinz in the fourth quarter worth approximately $34,000. Finally, OFI Invest Asset Management bought a new stake in Kraft Heinz in the 4th quarter worth approximately $36,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 1.6 %

Shares of KHC stock traded up $0.48 on Monday, hitting $29.94. 6,918,084 shares of the stock traded hands, compared to its average volume of 9,051,728. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The stock has a market capitalization of $35.73 billion, a PE ratio of 13.25, a PEG ratio of 3.39 and a beta of 0.44. The firm's 50-day moving average price is $30.01 and its two-hundred day moving average price is $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.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have weighed in on KHC shares. JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Jefferies Financial Group decreased their target price on Kraft Heinz from $34.00 to $30.00 and set a "hold" rating on the stock in a 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 report on Thursday, February 13th. Evercore ISI reaffirmed an "in-line" rating and issued a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, Bank of America downgraded Kraft Heinz from a "buy" rating to an "underperform" rating and cut their price objective for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Four analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $30.67.

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.