Corebridge Financial Inc. Lowers Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Corebridge Financial Inc. lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 407,281 shares of the company’s stock after selling 10,126 shares during the period. Corebridge Financial Inc.’s holdings in Kraft Heinz were worth $12,508,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Sawyer & Company Inc acquired a new position in Kraft Heinz in the fourth quarter valued at approximately $25,000. Generali Investments Management Co LLC purchased a new position in shares of Kraft Heinz during the 4th quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $29,000. Larson Financial Group LLC boosted its holdings in Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after buying an additional 636 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Kraft Heinz during the fourth quarter valued at $34,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.1 %

KHC stock opened at $29.10 on Wednesday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average of $29.93 and a two-hundred day moving average of $31.80. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96. The company has a market cap of $34.77 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 3.39 and a beta of 0.40.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating 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%. As a group, analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed 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 5.50%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s payout ratio is currently 70.80%.

Analyst Ratings Changes

KHC has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Mizuho lowered 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 report on Monday, February 10th. Morgan Stanley began coverage on Kraft Heinz in a research note on Monday. They set an “underweight” rating and a $29.00 target price for the company. Wells Fargo & Company dropped their price target on shares of 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. Finally, Evercore ISI restated an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and a consensus price target of $30.73.

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.