Truist Financial Corp Sells 30,879 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Truist Financial Corp trimmed its stake in The Kraft Heinz Company (NASDAQ:KHC) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 235,665 shares of the company’s stock after selling 30,879 shares during the period. Truist Financial Corp’s holdings in Kraft Heinz were worth $7,237,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of 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 purchasing an additional 545,504 shares during the last quarter. Banque Cantonale Vaudoise raised its stake in shares of Kraft Heinz by 52.5% during the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock worth $5,988,000 after acquiring an additional 58,665 shares in the last quarter. Brookstone Capital Management raised its stake in shares of Kraft Heinz by 229.8% during the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock worth $10,530,000 after acquiring an additional 238,913 shares in the last quarter. Easterly Investment Partners LLC raised its stake in shares of Kraft Heinz by 39.4% during the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock worth $5,529,000 after acquiring an additional 44,485 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Kraft Heinz by 12.6% during the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock worth $17,132,000 after acquiring an additional 54,656 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on KHC shares. UBS Group decreased their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group decreased their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Piper Sandler decreased their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Three analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $30.86.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $31.13 on Friday. The stock has a market cap of $37.20 billion, a P/E ratio of 13.77, a price-to-earnings-growth ratio of 3.34 and a beta of 0.47. The firm’s fifty day simple moving average is $29.73 and its 200 day simple moving average is $32.56. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

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 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%. As a group, research analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.14%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is currently 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.