OVERSEA CHINESE BANKING Corp Ltd Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

OVERSEA CHINESE BANKING Corp Ltd cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 75.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,379 shares of the company's stock after selling 25,181 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Kraft Heinz were worth $257,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Kraft Heinz during the third quarter valued at $411,304,000. State Street Corp boosted its holdings in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company's stock valued at $1,558,898,000 after acquiring an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Kraft Heinz by 11.3% in 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 period. Thompson Siegel & Walmsley LLC boosted its stake in shares of Kraft Heinz by 96.4% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,858,253 shares of the company's stock valued at $87,777,000 after purchasing an additional 1,403,220 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Kraft Heinz during the fourth quarter worth $39,339,000. 78.17% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on KHC. The Goldman Sachs Group dropped their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus dropped their price objective on Kraft Heinz from $32.00 to $31.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Mizuho cut Kraft Heinz from an "outperform" rating to a "neutral" rating and decreased their target price for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Bank of America downgraded Kraft Heinz from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Finally, Evercore ISI restated an "in-line" rating and set a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $30.73.

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Kraft Heinz Stock Down 0.1 %

Shares of NASDAQ:KHC traded down $0.02 during midday trading on Tuesday, hitting $29.10. 9,389,747 shares of the company's stock were exchanged, compared to its average volume of 8,504,662. 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 Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96. The company has a market cap of $34.77 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The stock has a 50 day moving average price of $29.92 and a 200-day moving average price of $31.85.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 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%. On average, sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.50%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz's dividend payout ratio (DPR) is presently 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.