The Kraft Heinz Company (NASDAQ:KHC) Stock Position Trimmed by Poplar Forest Capital LLC

Poplar Forest Capital LLC cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 21.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 708,372 shares of the company’s stock after selling 190,242 shares during the quarter. Kraft Heinz makes up 4.0% of Poplar Forest Capital LLC’s investment portfolio, making the stock its 10th largest holding. Poplar Forest Capital LLC’s holdings in Kraft Heinz were worth $21,754,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz in the third quarter worth about $27,000. Sawyer & Company Inc bought a new stake in shares of Kraft Heinz in the 4th quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new stake in Kraft Heinz in the third quarter worth $33,000. Larson Financial Group LLC raised its stake in shares of Kraft Heinz by 191.0% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after buying an additional 636 shares during the period. Finally, Hara Capital LLC bought a new stake in shares of Kraft Heinz in the third quarter valued at $37,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $30.72 on Friday. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96. The business has a 50-day simple moving average of $29.77 and a 200 day simple moving average of $32.42. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The stock has a market cap of $36.71 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 3.39 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate 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, research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal 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. This represents a $1.60 annualized dividend and a yield of 5.21%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s payout ratio is 70.80%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. TD Cowen lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Stifel Nicolaus lowered their target price on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Piper Sandler lowered their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Barclays lowered their target price on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Finally, Jefferies Financial Group lowered their target price on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.86.

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.