Victory Capital Management Inc. Sells 17,504 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Victory Capital Management Inc. lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,546,768 shares of the company's stock after selling 17,504 shares during the period. Victory Capital Management Inc. owned 0.13% of Kraft Heinz worth $47,501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KHC. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Kraft Heinz in the third quarter valued at approximately $411,304,000. State Street Corp lifted its position in Kraft Heinz by 16.7% in the third 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 during the period. Geode Capital Management LLC lifted its position in 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 period. Nordea Investment Management AB lifted its position in Kraft Heinz by 16.3% in the fourth 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 during the period. Finally, Assenagon Asset Management S.A. lifted its position in Kraft Heinz by 1,139.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company's stock worth $39,112,000 after purchasing an additional 1,170,814 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

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Kraft Heinz Price Performance

Shares of NASDAQ:KHC traded up $0.90 during midday trading on Friday, reaching $32.18. The company's stock had a trading volume of 15,741,101 shares, compared to its average volume of 10,335,693. 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 market capitalization of $38.45 billion, a P/E ratio of 14.24, a P/E/G ratio of 3.39 and a beta of 0.40. 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 business's fifty day simple moving average is $29.85 and its 200-day simple moving average is $32.29.

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, topping 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%. As a group, equities research analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz's dividend payout ratio (DPR) is currently 70.80%.

Analysts Set New Price Targets

KHC has been the subject of several research reports. Citigroup cut Kraft Heinz from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $34.00 to $28.00 in a research report on Thursday, February 13th. Piper Sandler reduced their target price on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Stifel Nicolaus reduced their target price 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. TD Cowen cut their price objective on Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Finally, Mizuho cut Kraft Heinz from an "outperform" rating to a "neutral" rating and cut their price objective for the company from $38.00 to $31.00 in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company's stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of "Hold" and a consensus target price of $30.86.

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.