GLOBALT Investments LLC GA Cuts Stake in The Kraft Heinz Company (NASDAQ:KHC)

GLOBALT Investments LLC GA reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 5.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,231 shares of the company’s stock after selling 10,372 shares during the period. GLOBALT Investments LLC GA’s holdings in Kraft Heinz were worth $5,627,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of KHC. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at $25,000. Larson Financial Group LLC boosted its position in shares of Kraft Heinz by 191.0% during 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 last quarter. R Squared Ltd purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at $34,000. OFI Invest Asset Management purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at $36,000. Finally, Hara Capital LLC boosted its position in shares of Kraft Heinz by 61.9% during the fourth quarter. Hara Capital LLC now owns 1,700 shares of the company’s stock valued at $52,000 after buying an additional 650 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KHC has been the topic of several recent analyst reports. Mizuho cut 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 research report on Monday, February 10th. 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 report on Wednesday, January 8th. Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $28.00 in a report on Thursday, February 13th. Evercore ISI reissued an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. 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 report on Wednesday, January 29th. Two analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Stock Up 0.1 %

NASDAQ KHC opened at $30.23 on Monday. The stock’s 50-day moving average price is $29.86 and its 200-day moving average price is $32.09. The company has a market capitalization of $36.12 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week 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 issued its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (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%. On average, equities research analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

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 paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

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.