The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 17.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,662,448 shares of the company’s stock after selling 348,625 shares during the quarter. Wells Fargo & Company MN owned 0.14% of Kraft Heinz worth $51,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KHC. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at about $25,000. Generali Investments Management Co LLC acquired a new position in Kraft Heinz in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Kraft Heinz in the 4th quarter valued at about $29,000. R Squared Ltd acquired a new position in Kraft Heinz in the 4th quarter valued at about $34,000. Finally, OFI Invest Asset Management acquired a new position in Kraft Heinz in the 4th quarter valued at about $36,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have issued reports on KHC shares. TD Cowen dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $38.00 to $31.00 in a report on Monday, February 10th. Citigroup reaffirmed a “sell” rating and issued a $27.00 price objective (down from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Morgan Stanley began coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 price objective for the company. Finally, JPMorgan Chase & Co. dropped their price objective on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Four analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus price target of $30.67.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $29.10 on Thursday. The business’s fifty day moving average price is $29.95 and its 200 day moving average price is $31.33. The stock has a market capitalization of $34.73 billion, a P/E ratio of 12.88, a PEG ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping 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%. As a group, research analysts anticipate 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 was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date was Friday, March 7th. Kraft Heinz’s payout ratio is 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.