The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Prudential PLC

Prudential PLC cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 44.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 143,371 shares of the company’s stock after selling 116,804 shares during the quarter. Prudential PLC’s holdings in Kraft Heinz were worth $4,403,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in KHC. New York Life Investment Management LLC grew its holdings in Kraft Heinz by 0.3% in 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 purchasing an additional 361 shares during the last quarter. Checchi Capital Advisers LLC increased its holdings in Kraft Heinz by 5.3% during the 4th 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. Meiji Yasuda Asset Management Co Ltd. raised its position in Kraft Heinz by 1.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company’s stock worth $1,097,000 after acquiring an additional 370 shares during the last quarter. Winch Advisory Services LLC lifted its holdings in shares of Kraft Heinz by 20.1% in the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock valued at $70,000 after purchasing an additional 380 shares in the last quarter. Finally, Cohen Investment Advisors LLC increased its stake in shares of Kraft Heinz by 5.0% during the 4th quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock worth $315,000 after purchasing an additional 487 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $29.68 on Friday. The business has a 50-day moving average of $30.09 and a two-hundred day moving average of $31.53. The firm has a market capitalization of $35.42 billion, a PE ratio of 13.13, a P/E/G ratio of 3.39 and a beta of 0.44. 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 Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly 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 net margin of 10.62% and a return on equity of 7.58%. As a group, research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on KHC shares. Morgan Stanley began coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 target price on the stock. Jefferies Financial Group decreased their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. UBS Group cut their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Evercore ISI reaffirmed an “in-line” rating and set a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, Piper Sandler cut their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average target price of $30.67.

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.