Prudential PLC reduced its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 44.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 143,371 shares of the company's stock after selling 116,804 shares during the quarter. Prudential PLC's holdings in Kraft Heinz were worth $4,403,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of KHC. New York Life Investment Management LLC lifted its holdings in shares of Kraft Heinz by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock worth $3,995,000 after buying an additional 361 shares in the last quarter. Checchi Capital Advisers LLC increased its holdings in Kraft Heinz by 5.3% in the 4th quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock valued at $223,000 after acquiring an additional 366 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Kraft Heinz by 1.0% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock valued at $1,097,000 after acquiring an additional 370 shares during the last quarter. Winch Advisory Services LLC boosted its holdings in shares of Kraft Heinz by 20.1% during the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company's stock valued at $70,000 after purchasing an additional 380 shares during the last quarter. Finally, Cohen Investment Advisors LLC grew its position in shares of Kraft Heinz by 5.0% during the fourth quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company's stock valued at $315,000 after purchasing an additional 487 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on KHC shares. Mizuho downgraded Kraft Heinz from an "outperform" rating to a "neutral" rating and reduced their price objective for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. JPMorgan Chase & Co. reduced their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Bank of America downgraded shares of Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their price target for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a research note on Thursday, February 13th. Finally, StockNews.com upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Four analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.67.
Read Our Latest Stock Report on KHC
Kraft Heinz Stock Up 1.7 %
Shares of Kraft Heinz stock traded up $0.49 during trading on Friday, reaching $29.33. The company's stock had a trading volume of 9,710,435 shares, compared to its average volume of 9,036,577. The company has a 50-day simple moving average of $29.95 and a two-hundred day simple moving average of $31.25. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The company has a market cap of $35.00 billion, a price-to-earnings ratio of 12.98, a P/E/G ratio of 3.39 and a beta of 0.44. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share 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 analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current year.
Kraft Heinz Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.46%. Kraft Heinz's dividend payout ratio (DPR) is presently 70.80%.
About Kraft Heinz
(
Free Report)
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.
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