Bank of New York Mellon Corp Sells 932,911 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Bank of New York Mellon Corp cut its position in The Kraft Heinz Company (NASDAQ:KHC) by 10.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,068,172 shares of the company’s stock after selling 932,911 shares during the period. Bank of New York Mellon Corp owned 0.67% of Kraft Heinz worth $247,774,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in KHC. AMF Tjanstepension AB grew its position in Kraft Heinz by 143.4% during the 3rd quarter. AMF Tjanstepension AB now owns 245,522 shares of the company’s stock worth $8,620,000 after acquiring an additional 144,646 shares during the last quarter. International Assets Investment Management LLC grew its holdings in shares of Kraft Heinz by 4,806.3% during the third quarter. International Assets Investment Management LLC now owns 616,134 shares of the company’s stock worth $21,632,000 after purchasing an additional 603,576 shares during the last quarter. Allworth Financial LP increased its stake in shares of Kraft Heinz by 37.4% in the third quarter. Allworth Financial LP now owns 13,580 shares of the company’s stock valued at $477,000 after buying an additional 3,695 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Kraft Heinz by 3.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 74,455 shares of the company’s stock valued at $2,614,000 after buying an additional 2,634 shares during the last quarter. Finally, Modera Wealth Management LLC acquired a new position in Kraft Heinz during the 3rd quarter worth about $207,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $30.58 on Thursday. The firm has a market capitalization of $36.55 billion, a P/E ratio of 13.53, a PEG ratio of 3.39 and a beta of 0.47. The business has a 50-day moving average of $29.76 and a 200-day moving average of $32.46. 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 1 year low of $27.25 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating 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%. On average, equities analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a yield of 5.23%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s payout ratio is presently 70.80%.

Analyst Ratings Changes

Several research firms have weighed in on KHC. StockNews.com cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. TD Cowen lowered their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $28.00 in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Finally, Stifel Nicolaus cut their price target on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat, the company 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.