First Horizon Advisors Inc. Has $13.72 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

First Horizon Advisors Inc. decreased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.8% during the 4th quarter, Holdings Channel reports. The firm owned 446,825 shares of the company’s stock after selling 17,526 shares during the period. First Horizon Advisors Inc.’s holdings in Kraft Heinz were worth $13,722,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz during the third quarter worth $411,304,000. State Street Corp lifted its stake in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after acquiring an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 1,944,019 shares during the period. Nordea Investment Management AB raised its holdings in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Kraft Heinz by 1,139.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock valued at $39,112,000 after purchasing an additional 1,170,814 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $31.13 on Friday. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The firm has a 50-day moving average price of $29.73 and a two-hundred day moving average price of $32.54. The company has a market capitalization of $37.20 billion, a P/E ratio of 13.77, a P/E/G ratio of 3.39 and a beta of 0.47. 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) last issued its quarterly 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 return on equity of 7.58% and a net margin of 10.62%. Analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s payout ratio is currently 70.80%.

Analyst Ratings Changes

A number of equities analysts have weighed in on KHC shares. Stifel Nicolaus lowered their price target on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Piper Sandler decreased 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. JPMorgan Chase & Co. cut their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a 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 objective for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Finally, Citigroup cut shares of Kraft Heinz from a “buy” rating to a “neutral” rating and cut their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $30.86.

Kraft Heinz Profile

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.