King Luther Capital Management Corp Sells 366,466 Shares of The Kraft Heinz Company (NASDAQ:KHC)

King Luther Capital Management Corp reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,499,394 shares of the company’s stock after selling 366,466 shares during the period. King Luther Capital Management Corp owned about 0.12% of Kraft Heinz worth $46,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in KHC. Principal Financial Group Inc. lifted its stake in shares of Kraft Heinz by 14.4% in the third quarter. Principal Financial Group Inc. now owns 1,097,084 shares of the company’s stock worth $38,519,000 after acquiring an additional 138,101 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Kraft Heinz in the third quarter worth approximately $33,000. Assetmark Inc. lifted its stake in shares of Kraft Heinz by 1.1% in the third quarter. Assetmark Inc. now owns 97,462 shares of the company’s stock worth $3,422,000 after acquiring an additional 1,070 shares during the period. Atria Investments Inc lifted its stake in shares of Kraft Heinz by 36.3% in the third quarter. Atria Investments Inc now owns 41,959 shares of the company’s stock worth $1,473,000 after acquiring an additional 11,185 shares during the period. Finally, XML Financial LLC acquired a new position in shares of Kraft Heinz in the third quarter worth approximately $201,000. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

KHC has been the topic of several recent analyst reports. Citigroup lowered Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their price target for the company from $34.00 to $28.00 in a research note on Thursday, February 13th. Mizuho lowered Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Wells Fargo & Company dropped their price target on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. Barclays dropped their price target on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Finally, Piper Sandler dropped their price target 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. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Trading Up 0.1 %

Shares of Kraft Heinz stock opened at $32.22 on Tuesday. The stock has a fifty day simple moving average of $29.88 and a 200 day simple moving average of $32.24. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The company has a market capitalization of $38.50 billion, a P/E ratio of 14.26, a price-to-earnings-growth 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 announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) 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%. On average, sell-side analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.97%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

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.