Great Lakes Advisors LLC Sells 35,911 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Great Lakes Advisors LLC reduced its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 139,701 shares of the company's stock after selling 35,911 shares during the period. Great Lakes Advisors LLC's holdings in Kraft Heinz were worth $4,290,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Atria Investments Inc boosted its stake in Kraft Heinz by 36.3% during the 3rd quarter. Atria Investments Inc now owns 41,959 shares of the company's stock valued at $1,473,000 after purchasing an additional 11,185 shares during the period. Ashton Thomas Securities LLC bought a new stake in shares of Kraft Heinz in the 3rd quarter worth approximately $27,000. Venturi Wealth Management LLC lifted its position in shares of Kraft Heinz by 43.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,948 shares of the company's stock worth $104,000 after acquiring an additional 894 shares during the period. Ashton Thomas Private Wealth LLC lifted its position in shares of Kraft Heinz by 4.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 17,185 shares of the company's stock worth $603,000 after acquiring an additional 767 shares during the period. Finally, Pinnacle Financial Partners Inc lifted its position in shares of Kraft Heinz by 4.2% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company's stock worth $336,000 after acquiring an additional 381 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

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Kraft Heinz Trading Down 1.6 %

Shares of NASDAQ KHC traded down $0.50 during midday trading on Wednesday, hitting $29.89. The stock had a trading volume of 14,541,381 shares, compared to its average volume of 10,566,896. The company's 50-day simple moving average is $29.89 and its 200 day simple moving average is $32.03. The firm has a market cap of $35.72 billion, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released 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%. Research analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.35%. Kraft Heinz's dividend payout ratio is currently 70.80%.

Analysts Set New Price Targets

A number of brokerages have commented on KHC. 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 report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Jefferies Financial Group dropped their target price on Kraft Heinz from $34.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, January 29th. UBS Group dropped 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. Finally, Citigroup cut Kraft Heinz from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $34.00 to $28.00 in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. According to MarketBeat, Kraft Heinz presently has an average rating of "Hold" and a consensus price target of $30.86.

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.