The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 1.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,546,768 shares of the company’s stock after selling 17,504 shares during the period. Victory Capital Management Inc. owned 0.13% of Kraft Heinz worth $47,501,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at $411,304,000. State Street Corp lifted its position 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 buying an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC boosted its stake in Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after buying an additional 1,944,019 shares during the period. Nordea Investment Management AB increased its position in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after acquiring an additional 1,238,200 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake 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 acquiring an additional 1,170,814 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KHC has been the subject of several research reports. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. TD Cowen cut their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. 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 research note on Thursday, February 13th. Stifel Nicolaus dropped their target price on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, Bank of America cut shares of Kraft Heinz from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $36.00 to $30.00 in a research report on Thursday, February 13th. Three 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 currently has an average rating of “Hold” and an average target price of $30.86.

Kraft Heinz Trading Up 2.9 %

Shares of NASDAQ:KHC opened at $32.18 on Friday. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The company’s 50 day moving average is $29.85 and its two-hundred day moving average is $32.29. The company has a market cap of $38.45 billion, a PE ratio of 14.24, a P/E/G ratio of 3.39 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 12th. The company reported $0.84 EPS 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%. Equities analysts predict that The Kraft Heinz Company will post 2.68 earnings per share 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. Investors of record on Friday, March 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.97%. 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.