The Kraft Heinz Company (NASDAQ:KHC) Stake Cut by Glenview Trust co

Glenview Trust co reduced its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 38.2% in the 4th quarter, Holdings Channel reports. The fund owned 43,731 shares of the company’s stock after selling 27,023 shares during the period. Glenview Trust co’s holdings in Kraft Heinz were worth $1,343,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of KHC. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz in the 3rd quarter worth about $411,304,000. State Street Corp increased its position in Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC increased its position in Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its position in Kraft Heinz by 96.4% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,858,253 shares of the company’s stock worth $87,777,000 after purchasing an additional 1,403,220 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Kraft Heinz in the 4th quarter worth about $39,339,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. TD Cowen lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Bank of America lowered 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 report on Thursday, February 13th. Evercore ISI reissued an “in-line” rating and set a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. StockNews.com raised Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Finally, Citigroup lowered Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $28.00 in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $30.86.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $30.66 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $36.64 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The business has a 50 day simple moving average of $29.88 and a 200 day simple moving average of $32.06.

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%. On average, sell-side analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.22%. Kraft Heinz’s dividend payout ratio is 70.80%.

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.