Harbour Investments Inc. Sells 1,713 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Harbour Investments Inc. lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,294 shares of the company’s stock after selling 1,713 shares during the period. Harbour Investments Inc.’s holdings in Kraft Heinz were worth $255,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp grew its position in 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 acquiring an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC grew its position in 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 acquiring an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in shares of Kraft Heinz during the third quarter worth about $411,304,000. Nordea Investment Management AB grew its holdings in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Kraft Heinz by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,601,292 shares of the company’s stock worth $172,016,000 after purchasing an additional 293,694 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

KHC has been the topic of several research reports. Piper Sandler reduced their price target on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Barclays reduced their price target on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Citigroup cut Kraft Heinz from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $34.00 to $28.00 in a report on Thursday, February 13th. Stifel Nicolaus cut their price objective 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. Finally, StockNews.com raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Two research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average target price of $30.86.

Kraft Heinz Trading Down 0.6 %

NASDAQ KHC opened at $29.52 on Friday. The company has a market cap of $35.28 billion, a price-to-earnings ratio of 13.06, a P/E/G 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 business has a 50 day moving average price of $29.92 and a 200-day moving average price of $31.95. 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 released its quarterly earnings data 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, equities analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.42%. Kraft Heinz’s dividend payout ratio (DPR) 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.