The Kraft Heinz Company (NASDAQ:KHC) Position Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 53.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 517,542 shares of the company’s stock after selling 597,428 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kraft Heinz were worth $15,923,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in KHC. Charles Schwab Investment Management Inc. lifted its holdings in shares of Kraft Heinz by 11.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares during the last quarter. Banque Cantonale Vaudoise boosted its position in Kraft Heinz by 52.5% during the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock valued at $5,988,000 after purchasing an additional 58,665 shares during the last quarter. Brookstone Capital Management raised its position in Kraft Heinz by 229.8% during the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock valued at $10,530,000 after acquiring an additional 238,913 shares in the last quarter. Easterly Investment Partners LLC boosted its holdings in Kraft Heinz by 39.4% in the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock worth $5,529,000 after purchasing an additional 44,485 shares in the last quarter. Finally, Toronto Dominion Bank lifted its position in shares of Kraft Heinz by 12.6% in the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock worth $17,132,000 after buying an additional 54,656 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on KHC. TD Cowen cut their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. UBS Group cut their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Mizuho downgraded Kraft Heinz from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $31.00 in a research report on Monday, February 10th. JPMorgan Chase & Co. cut their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Bank of America cut Kraft Heinz from a “buy” rating to an “underperform” rating and lowered their price objective for the company from $36.00 to $30.00 in a research report on Thursday. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $28.92 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 firm has a market cap of $34.97 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 3.74 and a beta of 0.47. The company has a 50 day moving average of $29.90 and a 200-day moving average of $32.73. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. On average, equities analysts forecast that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is 144.14%.

Kraft Heinz Company 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.