iA Global Asset Management Inc. Sells 55,561 Shares of The Kraft Heinz Company (NASDAQ:KHC)

iA Global Asset Management Inc. decreased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 29.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 130,331 shares of the company’s stock after selling 55,561 shares during the period. iA Global Asset Management Inc.’s holdings in Kraft Heinz were worth $4,002,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. New York Life Investment Management LLC raised its stake in Kraft Heinz by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock worth $3,995,000 after buying an additional 361 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after buying an additional 366 shares in the last quarter. Winch Advisory Services LLC raised its stake in Kraft Heinz by 20.1% in the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after buying an additional 380 shares in the last quarter. Cohen Investment Advisors LLC grew its holdings in Kraft Heinz by 5.0% in the fourth quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock worth $315,000 after purchasing an additional 487 shares during the last quarter. Finally, LMG Wealth Partners LLC grew its holdings in Kraft Heinz by 1.4% in the fourth quarter. LMG Wealth Partners LLC now owns 37,040 shares of the company’s stock worth $1,137,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on KHC. Stifel Nicolaus cut their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Piper Sandler cut 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 cut 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 cut 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, Citigroup lowered shares of Kraft Heinz from a “buy” rating to a “neutral” rating and cut their price target for the stock from $34.00 to $28.00 in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Trading Down 0.6 %

NASDAQ KHC opened at $29.71 on Friday. The company has a market capitalization of $35.50 billion, a PE ratio of 13.15, a P/E/G ratio of 3.39 and a beta of 0.40. The company has a fifty day moving average of $29.90 and a 200 day moving average of $32.00. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

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

Kraft Heinz Dividend Announcement

The firm 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 dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.39%. Kraft Heinz’s dividend payout ratio is presently 70.80%.

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.