The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by iA Global Asset Management Inc.

iA Global Asset Management Inc. decreased its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 29.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 130,331 shares of the company's stock after selling 55,561 shares during the quarter. iA Global Asset Management Inc.'s holdings in Kraft Heinz were worth $4,002,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $25,000. Generali Investments Management Co LLC bought a new position in shares of Kraft Heinz during the 4th quarter worth $26,000. Larson Financial Group LLC increased its holdings in Kraft Heinz by 191.0% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company's stock worth $34,000 after acquiring an additional 636 shares during the last quarter. R Squared Ltd bought a new stake in Kraft Heinz in the 4th quarter valued at about $34,000. Finally, OFI Invest Asset Management purchased a new stake in Kraft Heinz during the fourth quarter valued at about $36,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Morgan Stanley began coverage on shares of Kraft Heinz in a research note on Monday. They issued an "underweight" rating and a $29.00 price objective for the company. Piper Sandler dropped their price objective on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. UBS Group reduced their target price on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. TD Cowen lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat.com, Kraft Heinz presently has an average rating of "Hold" and a consensus price target of $30.73.

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Kraft Heinz Stock Performance

Kraft Heinz stock traded down $0.02 during midday trading on Tuesday, reaching $29.10. 9,389,747 shares of the company traded hands, compared to its average volume of 8,504,662. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96. The firm has a market capitalization of $34.77 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. 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 business has a 50 day moving average of $29.92 and a two-hundred day moving average of $31.85.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 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%. As a group, research analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.50%. 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.