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

Prudential PLC reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 44.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,371 shares of the company’s stock after selling 116,804 shares during the period. Prudential PLC’s holdings in Kraft Heinz were worth $4,403,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KHC. New York Life Investment Management LLC lifted its holdings in Kraft Heinz by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock worth $3,995,000 after buying an additional 361 shares in the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after acquiring an additional 366 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in Kraft Heinz by 1.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company’s stock valued at $1,097,000 after purchasing an additional 370 shares during the last quarter. Winch Advisory Services LLC grew its stake in Kraft Heinz by 20.1% during the 4th 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 raised its position in shares of Kraft Heinz by 5.0% in the 4th 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. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KHC. Citigroup reissued a “sell” rating and set a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a research report on Friday. Morgan Stanley started coverage on shares of Kraft Heinz in a research report on Monday, March 24th. They issued an “underweight” rating and a $29.00 target price for the company. Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Bank of America cut Kraft Heinz from a “buy” rating to an “underperform” rating and cut their price objective for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $30.67.

Kraft Heinz Trading Down 3.7 %

Shares of NASDAQ:KHC opened at $29.68 on Friday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average price is $30.09 and its 200 day moving average price is $31.53. The company has a market cap 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 Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Sell-side analysts anticipate 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. Stockholders of record on Friday, March 7th were paid a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.39%. 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.