International Assets Investment Management LLC Decreases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

International Assets Investment Management LLC trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 95.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,199 shares of the company's stock after selling 589,935 shares during the quarter. International Assets Investment Management LLC's holdings in Kraft Heinz were worth $806,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp boosted its position in Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company's stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company's stock worth $669,821,000 after buying an additional 1,944,019 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Kraft Heinz in the third quarter valued at $411,304,000. Legal & General Group Plc raised its position in shares of Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company's stock worth $292,061,000 after acquiring an additional 799,581 shares during the period. Finally, Nordea Investment Management AB boosted its stake 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 acquiring an additional 1,238,200 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Trading Down 3.9 %

Shares of NASDAQ KHC traded down $1.15 during midday trading on Friday, reaching $28.51. 14,238,209 shares of the stock were exchanged, compared to its average volume of 9,189,679. The Kraft Heinz Company has a twelve month low of $28.50 and a twelve month high of $38.96. The stock has a market capitalization of $34.47 billion, a P/E ratio of 25.68, a PEG ratio of 3.62 and a beta of 0.48. The company has a 50 day simple moving average of $31.33 and a 200 day simple moving average of $33.36. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate 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 for the quarter was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, equities analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.61%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz's dividend payout ratio is presently 144.14%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KHC. Mizuho cut their price target on Kraft Heinz from $43.00 to $41.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Piper Sandler reaffirmed a "neutral" rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and cut their price target for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Stifel Nicolaus downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. Finally, The Goldman Sachs Group cut their target price on shares of 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, eight have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $35.58.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares of the company's stock, valued at $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.32% of the company's stock.

Kraft Heinz 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.