The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Steel Grove Capital Advisors LLC

Steel Grove Capital Advisors LLC reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 80.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,457 shares of the company's stock after selling 39,849 shares during the quarter. Steel Grove Capital Advisors LLC's holdings in Kraft Heinz were worth $290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. New York Life Investment Management LLC grew its position in Kraft Heinz by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock worth $3,995,000 after purchasing an additional 361 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Kraft Heinz by 5.3% during 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. lifted its position in Kraft Heinz by 1.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock worth $1,097,000 after acquiring an additional 370 shares during the period. Winch Advisory Services LLC grew its stake in shares of Kraft Heinz by 20.1% in 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 raised its stake 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 worth $315,000 after purchasing an additional 487 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of 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. Piper Sandler reduced their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Bank of America cut Kraft Heinz from a "buy" rating to an "underperform" rating and dropped their target price for the stock from $36.00 to $30.00 in a research report on Thursday, February 13th. Barclays decreased their price target on Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research note on Friday, February 14th. Finally, Stifel Nicolaus cut their price objective on Kraft Heinz from $32.00 to $31.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Four analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $30.69.

Kraft Heinz Trading Up 0.9 %

Kraft Heinz stock opened at $30.20 on Wednesday. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The stock has a market cap of $36.04 billion, a PE ratio of 13.36, a P/E/G ratio of 3.39 and a beta of 0.44. The stock has a 50-day moving average price of $30.02 and a 200 day moving average price of $31.00. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Equities research analysts predict 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 announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.30%. 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.

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kraft Heinz Company (NASDAQ:KHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.