SP Asset Management LLC Sells 3,548 Shares of The Kraft Heinz Company (NASDAQ:KHC)

SP Asset Management LLC cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,579 shares of the company’s stock after selling 3,548 shares during the period. SP Asset Management LLC’s holdings in Kraft Heinz were worth $1,000,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in KHC. State Street Corp increased its stake in Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after buying an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after acquiring an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Kraft Heinz in the 3rd quarter valued at $411,304,000. Nordea Investment Management AB increased its position in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Kraft Heinz by 5.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,601,292 shares of the company’s stock worth $172,016,000 after purchasing an additional 293,694 shares during the period. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $30.99 on Thursday. The business has a 50-day simple moving average of $29.80 and a 200 day simple moving average of $32.34. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The stock has a market cap of $37.03 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 3.39 and a beta of 0.40. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its 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 net margin of 10.62% and a return on equity of 7.58%. On average, research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

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 given a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.16%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KHC. Barclays decreased their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company dropped their price target on 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. Jefferies Financial Group lowered their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Stifel Nicolaus cut their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Finally, UBS Group reduced their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $30.86.

Kraft Heinz 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.