Catalyst Capital Advisors LLC Sells 9,332 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Catalyst Capital Advisors LLC decreased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 90.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 941 shares of the company’s stock after selling 9,332 shares during the period. Catalyst Capital Advisors LLC’s holdings in Kraft Heinz were worth $29,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KHC. State Street Corp grew its holdings in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 period. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Kraft Heinz during the third quarter valued at approximately $411,304,000. Nordea Investment Management AB increased its holdings in Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after buying an additional 1,238,200 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Kraft Heinz by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock worth $186,350,000 after buying an additional 545,504 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Piper Sandler dropped their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Mizuho downgraded Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $38.00 to $31.00 in a research report on Monday, February 10th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. UBS Group decreased their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Bank of America downgraded shares of Kraft Heinz from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $36.00 to $30.00 in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $29.79 on Thursday. 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 business has a fifty day moving average of $29.77 and a 200 day moving average of $32.60. The firm has a market capitalization of $35.60 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 3.25 and a beta of 0.47. 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 released its earnings results 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 expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) 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.