Graypoint LLC Sells 1,256 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Graypoint LLC trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 15.3% in the fourth quarter, HoldingsChannel reports. The firm owned 6,931 shares of the company’s stock after selling 1,256 shares during the quarter. Graypoint LLC’s holdings in Kraft Heinz were worth $213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. A. D. Beadell Investment Counsel Inc. lifted its holdings in shares of Kraft Heinz by 44.7% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 9,715 shares of the company’s stock worth $298,000 after buying an additional 3,000 shares in the last quarter. First Hawaiian Bank lifted its holdings in shares of Kraft Heinz by 7.8% during the fourth quarter. First Hawaiian Bank now owns 11,713 shares of the company’s stock worth $360,000 after buying an additional 849 shares in the last quarter. Pensionfund Sabic lifted its holdings in shares of Kraft Heinz by 34.3% during the fourth quarter. Pensionfund Sabic now owns 47,000 shares of the company’s stock worth $1,443,000 after buying an additional 12,000 shares in the last quarter. Nordea Investment Management AB lifted its holdings 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 worth $269,906,000 after buying an additional 1,238,200 shares in the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Kraft Heinz by 40.7% during the fourth quarter. Versant Capital Management Inc now owns 2,082 shares of the company’s stock worth $64,000 after buying an additional 602 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on KHC shares. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Evercore ISI reaffirmed an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, Citigroup dropped their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $35.58.

Kraft Heinz Stock Down 3.9 %

Shares of NASDAQ KHC opened at $28.51 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $34.47 billion, a price-to-earnings ratio of 25.68, a PEG ratio of 3.62 and a beta of 0.48. The Kraft Heinz Company has a 12 month low of $28.50 and a 12 month high of $38.96. The stock has a 50-day moving average price of $31.23 and a two-hundred day moving average price of $33.34.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, analysts forecast that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.61%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

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.