Wells Fargo & Company MN Sells 348,625 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Wells Fargo & Company MN reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 17.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,662,448 shares of the company's stock after selling 348,625 shares during the quarter. Wells Fargo & Company MN owned about 0.14% of Kraft Heinz worth $51,054,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in KHC. IHT Wealth Management LLC bought a new position in Kraft Heinz in the 3rd quarter worth approximately $238,000. Wellington Management Group LLP increased its holdings in shares of Kraft Heinz by 276.9% during the third quarter. Wellington Management Group LLP now owns 126,653 shares of the company's stock valued at $4,447,000 after purchasing an additional 93,046 shares during the period. MML Investors Services LLC increased its holdings in shares of Kraft Heinz by 2.7% during the third quarter. MML Investors Services LLC now owns 141,692 shares of the company's stock valued at $4,975,000 after purchasing an additional 3,762 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Kraft Heinz by 6.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 353,429 shares of the company's stock worth $12,409,000 after purchasing an additional 22,644 shares during the period. Finally, Geode Capital Management LLC grew its position in Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company's stock valued at $669,821,000 after buying an additional 1,944,019 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several equities research analysts recently commented on the company. The Goldman Sachs Group dropped their target price on Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a report on Thursday, February 13th. JPMorgan Chase & Co. reduced 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. Barclays dropped their price target on Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. UBS Group decreased their price objective on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Finally, Piper Sandler dropped their target price on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a report 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, Kraft Heinz currently has an average rating of "Hold" and a consensus price target of $30.67.

Kraft Heinz Stock Down 1.1 %

Shares of NASDAQ:KHC traded down $0.32 on Tuesday, reaching $29.49. The company had a trading volume of 1,964,952 shares, compared to its average volume of 9,016,652. The stock has a market capitalization of $35.19 billion, a P/E ratio of 13.06, a P/E/G ratio of 3.39 and a beta of 0.44. The stock has a 50-day moving average price of $29.97 and a 200 day moving average price of $31.19. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. 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 posted 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 return on equity of 7.58% and a net margin of 10.62%. On average, equities analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date was Friday, March 7th. Kraft Heinz's dividend 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.