The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,295,172 shares of the company’s stock after selling 1,248,333 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Kraft Heinz were worth $193,325,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after acquiring an additional 14,996,486 shares during the period. State Street Corp grew its position in shares of Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the period. Geode Capital Management LLC grew its position in shares of Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz in the third quarter valued at $411,304,000. Finally, Norges Bank acquired a new stake in Kraft Heinz in the 4th quarter worth about $324,857,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Bank of America lowered Kraft Heinz from a “buy” rating to an “underperform” rating and dropped their price target for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Jefferies Financial Group cut their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Stifel Nicolaus cut their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Finally, Piper Sandler decreased their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $30.73.

Kraft Heinz Stock Performance

KHC opened at $30.24 on Monday. The business has a 50 day moving average of $29.99 and a 200-day moving average of $31.69. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The stock has a market cap of $36.14 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 3.39 and a beta of 0.40. 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 issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating 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%. On average, equities research analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

About Kraft Heinz

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.