Carret Asset Management LLC Reduces Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Carret Asset Management LLC lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,274 shares of the company’s stock after selling 829 shares during the period. Carret Asset Management LLC’s holdings in Kraft Heinz were worth $1,912,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. New York Life Investment Management LLC boosted its position in Kraft Heinz by 0.3% during the 4th 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 period. Checchi Capital Advisers LLC raised its position 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 worth $223,000 after purchasing an additional 366 shares during the period. Winch Advisory Services LLC grew 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 buying an additional 380 shares in the last quarter. Pinnacle Financial Partners Inc grew 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 buying an additional 381 shares in the last quarter. Finally, Cohen Investment Advisors LLC grew its stake in Kraft Heinz by 5.0% in the fourth quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock valued at $315,000 after purchasing an additional 487 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Ratings Changes

KHC has been the subject of several research analyst reports. Wells Fargo & Company cut their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. TD Cowen decreased their price target on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Piper Sandler cut 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. Finally, JPMorgan Chase & Co. dropped their price objective on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Stock Down 0.4 %

KHC opened at $30.19 on Friday. The company has a fifty day moving average price of $29.87 and a 200-day moving average price of $32.18. The firm has a market capitalization of $36.08 billion, a P/E ratio of 13.36, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. 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 one year low of $27.25 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its 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 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 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business 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. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.30%. 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.