Allspring Global Investments Holdings LLC Sells 597,428 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Allspring Global Investments Holdings LLC decreased its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 53.6% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 517,542 shares of the company's stock after selling 597,428 shares during the period. Allspring Global Investments Holdings LLC's holdings in Kraft Heinz were worth $15,923,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its stake in shares of Kraft Heinz by 16.7% during 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 raised its stake in shares of Kraft Heinz by 11.3% during 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 in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Kraft Heinz during the 3rd quarter worth approximately $411,304,000. Nordea Investment Management AB raised 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 purchasing an additional 1,238,200 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company's stock worth $186,350,000 after purchasing an additional 545,504 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on KHC. Mizuho cut Kraft Heinz from an "outperform" rating to a "neutral" rating and dropped their price target for the company from $38.00 to $31.00 in a research note on Monday, February 10th. TD Cowen dropped their price target on Kraft Heinz from $34.00 to $32.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus dropped their price target 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. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a "buy" rating to a "hold" rating and dropped their price target for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Finally, StockNews.com cut Kraft Heinz from a "hold" rating to a "sell" rating in a research note on Friday, February 14th. Three 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 company presently has a consensus rating of "Hold" and an average price target of $30.86.

Kraft Heinz Price Performance

NASDAQ:KHC traded up $0.37 during trading hours on Thursday, hitting $30.16. The company's stock had a trading volume of 8,637,502 shares, compared to its average volume of 9,914,280. The stock has a fifty day simple moving average of $29.77 and a 200-day simple moving average of $32.60. The company has a market capitalization of $36.03 billion, a P/E ratio of 13.34, a PEG ratio of 3.29 and a beta of 0.47. 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 twelve month low of $27.25 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results 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%. On average, analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.31%. Kraft Heinz's payout ratio is currently 70.80%.

About Kraft Heinz

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.