Westpac Banking Corp Has $207,000 Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Westpac Banking Corp decreased its stake in The Kraft Heinz Company (NASDAQ:KHC) by 44.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,743 shares of the company’s stock after selling 5,323 shares during the period. Westpac Banking Corp’s holdings in Kraft Heinz were worth $207,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after purchasing an additional 14,996,486 shares during the last quarter. State Street Corp grew its position in Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC increased its stake in Kraft Heinz by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company’s stock valued at $604,644,000 after acquiring an additional 595,406 shares during the period. Norges Bank acquired a new position in Kraft Heinz in the 4th quarter valued at approximately $324,857,000. Finally, Nordea Investment Management AB lifted its position 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 worth $269,906,000 after acquiring an additional 1,238,200 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Shares of KHC stock opened at $29.68 on Friday. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The stock’s fifty day moving average is $30.09 and its 200-day moving average is $31.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $35.42 billion, a PE ratio of 13.13, a PEG ratio of 3.39 and a beta of 0.44.

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 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%. Equities research analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.39%. The ex-dividend date was Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Citigroup restated a “sell” rating and issued a $27.00 target price (down from $28.00) on shares of Kraft Heinz in a research note on Friday. TD Cowen reduced their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group lowered their target price on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Stifel Nicolaus cut their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Finally, Morgan Stanley initiated coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 price objective on the stock. Four research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $30.67.

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.