Tocqueville Asset Management L.P. Reduces Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Tocqueville Asset Management L.P. decreased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 83.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,006 shares of the company’s stock after selling 132,289 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Kraft Heinz were worth $799,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sawyer & Company Inc purchased a new position in shares of Kraft Heinz in the fourth quarter worth approximately $25,000. Larson Financial Group LLC lifted its holdings in Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 636 shares in the last quarter. R Squared Ltd purchased a new position in Kraft Heinz during the fourth quarter valued at approximately $34,000. OFI Invest Asset Management purchased a new position in Kraft Heinz during the fourth quarter valued at approximately $36,000. Finally, Hara Capital LLC lifted its holdings in Kraft Heinz by 61.9% during the fourth quarter. Hara Capital LLC now owns 1,700 shares of the company’s stock valued at $52,000 after purchasing an additional 650 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Trading Down 1.6 %

Shares of KHC opened at $29.89 on Thursday. The company’s fifty day moving average is $29.89 and its 200 day moving average is $32.01. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The stock has a market capitalization of $35.72 billion, a PE ratio of 13.23, a P/E/G ratio of 3.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share 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%. Sell-side analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is 70.80%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KHC. Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price target for the company from $34.00 to $28.00 in a report on Thursday, February 13th. Piper Sandler lowered their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. UBS Group lowered their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company lowered 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 report on Thursday, February 13th. Finally, Jefferies Financial Group lowered their target price on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Two research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the stock. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and a consensus target price of $30.86.

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.