Franklin Resources Inc. Sells 10,088,329 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Franklin Resources Inc. lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 95.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 447,933 shares of the company's stock after selling 10,088,329 shares during the quarter. Franklin Resources Inc.'s holdings in Kraft Heinz were worth $13,756,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in KHC. Vanguard Group Inc. grew its holdings in shares of Kraft Heinz by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after buying an additional 14,996,486 shares during the last quarter. Norges Bank acquired a new position in Kraft Heinz during the 4th quarter valued at about $324,857,000. Geode Capital Management LLC raised its stake in shares of Kraft Heinz by 11.3% in the third 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 last quarter. Thompson Siegel & Walmsley LLC raised its stake in shares of Kraft Heinz by 96.4% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,858,253 shares of the company's stock worth $87,777,000 after purchasing an additional 1,403,220 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $39,339,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KHC. Piper Sandler decreased their price target on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Bank of America downgraded shares of Kraft Heinz from a "buy" rating to an "underperform" rating and lowered their target price for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Barclays cut their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Evercore ISI reiterated an "in-line" rating and issued a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company cut their target price on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $30.67.

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Kraft Heinz Stock Performance

NASDAQ KHC traded up $0.49 during trading on Friday, hitting $29.33. 9,710,435 shares of the company's stock traded hands, compared to its average volume of 9,036,577. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $35.00 billion, a price-to-earnings ratio of 12.98, a PEG ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The business has a 50 day moving average of $29.95 and a 200-day moving average of $31.25.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released 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 net margin of 10.62% and a return on equity of 7.58%. As a group, equities research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.46%. Kraft Heinz's payout ratio is 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.