Smithfield Trust Co Sells 941 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Smithfield Trust Co lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 27.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,477 shares of the company’s stock after selling 941 shares during the period. Smithfield Trust Co’s holdings in Kraft Heinz were worth $76,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. New York Life Investment Management LLC raised its holdings in shares of Kraft Heinz by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock valued at $3,995,000 after acquiring an additional 361 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Kraft Heinz by 5.3% during the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock valued at $223,000 after acquiring an additional 366 shares in the last quarter. Winch Advisory Services LLC raised its holdings in shares of Kraft Heinz by 20.1% during the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock valued at $70,000 after acquiring an additional 380 shares in the last quarter. Pinnacle Financial Partners Inc raised its holdings in shares of Kraft Heinz by 4.2% during the third quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock valued at $336,000 after acquiring an additional 381 shares in the last quarter. Finally, Smith Thornton Advisors LLC raised its holdings in shares of Kraft Heinz by 2.1% during the third quarter. Smith Thornton Advisors LLC now owns 20,718 shares of the company’s stock valued at $727,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of recent analyst reports. Piper Sandler decreased their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. UBS Group decreased their target price on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Barclays lowered their price objective on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. Citigroup lowered Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $28.00 in a research report on Thursday, February 13th. Finally, The Goldman Sachs Group lowered their price objective on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.86.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $30.99 on Thursday. 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. The business has a fifty day moving average price of $29.80 and a 200-day moving average price of $32.34. The company has a market capitalization of $37.03 billion, a PE ratio of 13.71, a PEG ratio of 3.39 and a beta of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating 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%. As a group, equities analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.16%. 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.