Citizens National Bank Trust Department Sells 6,460 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Citizens National Bank Trust Department reduced its position in The Kraft Heinz Company (NASDAQ:KHC) by 34.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,457 shares of the company’s stock after selling 6,460 shares during the period. Citizens National Bank Trust Department’s holdings in Kraft Heinz were worth $383,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in shares of Kraft Heinz by 29.1% in the 4th quarter. Handelsbanken Fonder AB now owns 420,974 shares of the company’s stock valued at $12,928,000 after buying an additional 94,871 shares in the last quarter. LMG Wealth Partners LLC boosted its stake in Kraft Heinz by 1.4% in the 4th quarter. LMG Wealth Partners LLC now owns 37,040 shares of the company’s stock worth $1,137,000 after purchasing an additional 498 shares in the last quarter. Private Advisor Group LLC boosted its stake in Kraft Heinz by 5.4% in the 4th quarter. Private Advisor Group LLC now owns 67,612 shares of the company’s stock worth $2,076,000 after purchasing an additional 3,470 shares in the last quarter. Good Life Advisors LLC boosted its stake in Kraft Heinz by 5.4% in the 4th quarter. Good Life Advisors LLC now owns 9,715 shares of the company’s stock worth $298,000 after purchasing an additional 499 shares in the last quarter. Finally, Financial Management Network Inc. acquired a new stake in Kraft Heinz in the 4th quarter worth approximately $295,000. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KHC shares. Citigroup cut shares of Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Bank of America cut shares of Kraft Heinz from a “buy” rating to an “underperform” rating and lowered their target price for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Mizuho cut shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Finally, Piper Sandler decreased 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 note on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $29.79 on Thursday. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The firm has a market cap of $35.60 billion, a PE ratio of 13.18, a PEG ratio of 3.29 and a beta of 0.47. The firm has a fifty day moving average of $29.77 and a 200 day moving average of $32.60. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders 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 dividend yield of 5.37%. The ex-dividend date of this dividend is Friday, March 7th. 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.