LGT Group Foundation Lowers Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

LGT Group Foundation lowered its position in The Kraft Heinz Company (NASDAQ:KHC) by 58.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,235 shares of the company’s stock after selling 27,074 shares during the period. LGT Group Foundation’s holdings in Kraft Heinz were worth $591,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KHC. Farther Finance Advisors LLC increased its holdings in Kraft Heinz by 19.9% during the third quarter. Farther Finance Advisors LLC now owns 11,328 shares of the company’s stock worth $398,000 after buying an additional 1,881 shares during the last quarter. Chicago Partners Investment Group LLC purchased a new stake in Kraft Heinz during the third quarter worth about $203,000. Janney Montgomery Scott LLC increased its holdings in Kraft Heinz by 26.3% during the third quarter. Janney Montgomery Scott LLC now owns 314,912 shares of the company’s stock worth $11,057,000 after buying an additional 65,672 shares during the last quarter. Van ECK Associates Corp increased its holdings in Kraft Heinz by 218.1% during the third quarter. Van ECK Associates Corp now owns 122,661 shares of the company’s stock worth $4,355,000 after buying an additional 84,102 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Kraft Heinz by 6.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,874,733 shares of the company’s stock worth $65,822,000 after buying an additional 109,777 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research analyst reports. Jefferies Financial Group decreased their price objective on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Barclays cut their target price on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a research report on Friday, February 14th. The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research report on Thursday, February 13th. TD Cowen cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler cut their target price 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. Three analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average price target of $30.86.

Kraft Heinz Price Performance

KHC stock opened at $31.32 on Tuesday. The firm has a 50 day moving average of $29.79 and a 200-day moving average of $32.37. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96. The firm has a market capitalization of $37.43 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 3.39 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio is currently 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.