VELA Investment Management LLC lessened its stake in The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 64.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 15,429 shares of the company’s stock after selling 28,341 shares during the period. VELA Investment Management LLC’s holdings in Kraft Heinz were worth $474,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC lifted its holdings in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at about $27,000. Sawyer & Company Inc purchased a new position in shares of Kraft Heinz in the 4th quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at about $33,000. Finally, Larson Financial Group LLC increased its stake in shares of Kraft Heinz by 191.0% in the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 636 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the company. UBS Group cut their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. StockNews.com lowered Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. Jefferies Financial Group cut their price target on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, January 29th. The Goldman Sachs Group cut their price target on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” 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 assigned a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.86.
Kraft Heinz Trading Up 0.1 %
Shares of Kraft Heinz stock opened at $30.65 on Friday. The stock has a market cap of $36.63 billion, a P/E ratio of 13.56, a P/E/G ratio of 3.39 and a beta of 0.47. The stock’s 50 day simple moving average is $29.77 and its 200-day simple moving average is $32.45. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued 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%. Analysts predict 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. Stockholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.22%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio is currently 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.
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