NewSquare Capital LLC Sells 863 Shares of The Kraft Heinz Company (NASDAQ:KHC)

NewSquare Capital LLC cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 204,394 shares of the company’s stock after selling 863 shares during the quarter. NewSquare Capital LLC’s holdings in Kraft Heinz were worth $6,194,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hotchkis & Wiley Capital Management LLC purchased a new position in shares of Kraft Heinz during the 3rd quarter valued at about $411,304,000. State Street Corp raised its stake in shares of Kraft Heinz by 16.7% during the third 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 holdings 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 acquiring an additional 1,944,019 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in shares of Kraft Heinz by 1,139.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock valued at $39,112,000 after purchasing an additional 1,170,814 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KHC. Jefferies Financial Group cut their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Stifel Nicolaus dropped their target price on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Wells Fargo & Company decreased their price target on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 13th. UBS Group dropped their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Trading Down 1.1 %

Shares of KHC opened at $30.98 on Wednesday. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The firm has a market capitalization of $37.02 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 3.39 and a beta of 0.40. The firm’s 50-day moving average price is $29.80 and its 200-day moving average price is $32.35. 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 posted its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share 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%. Sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders 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 5.16%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio 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.