Envestnet Portfolio Solutions Inc. cut its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 19.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,059 shares of the company's stock after selling 9,385 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Kraft Heinz were worth $1,169,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Sawyer & Company Inc bought a new position in shares of Kraft Heinz during the fourth quarter valued at $25,000. Larson Financial Group LLC boosted its position in Kraft Heinz by 191.0% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company's stock valued at $34,000 after buying an additional 636 shares in the last quarter. R Squared Ltd bought a new stake in Kraft Heinz during the fourth quarter worth about $34,000. OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz during the fourth quarter worth approximately $36,000. Finally, Hara Capital LLC raised its stake in shares of Kraft Heinz by 61.9% in the fourth quarter. Hara Capital LLC now owns 1,700 shares of the company's stock valued at $52,000 after acquiring an additional 650 shares during the last quarter. Institutional investors own 78.17% of the company's stock.
Kraft Heinz Trading Up 0.1 %
Kraft Heinz stock traded up $0.03 during midday trading on Tuesday, hitting $29.15. 1,596,670 shares of the stock were exchanged, compared to its average volume of 8,504,662. The stock has a market capitalization of $34.83 billion, a PE ratio of 12.89, a P/E/G ratio of 3.39 and a beta of 0.40. The company has a fifty day simple moving average of $29.92 and a two-hundred day simple moving average of $31.85. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week 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 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%. Equities research analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.
Kraft Heinz Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz's dividend payout ratio is 70.80%.
Analyst Ratings Changes
A number of equities research analysts recently weighed in on KHC shares. Citigroup cut Kraft Heinz from a "buy" rating to a "neutral" rating and dropped their price target for the company from $34.00 to $28.00 in a report on Thursday, February 13th. TD Cowen lowered their price objective 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. Piper Sandler reduced their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Bank of America lowered shares of Kraft Heinz from a "buy" rating to an "underperform" rating and lowered their price target for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Finally, UBS Group reduced their price objective on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $30.73.
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About Kraft Heinz
(
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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