Cetera Investment Advisers Has $11.51 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Cetera Investment Advisers trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 374,802 shares of the company’s stock after selling 16,928 shares during the period. Cetera Investment Advisers’ holdings in Kraft Heinz were worth $11,510,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Brevan Howard Capital Management LP bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $2,436,000. Bridgefront Capital LLC bought a new stake in Kraft Heinz in the fourth quarter valued at approximately $765,000. Captrust Financial Advisors raised its stake in Kraft Heinz by 71.8% in the fourth quarter. Captrust Financial Advisors now owns 111,341 shares of the company’s stock valued at $3,419,000 after buying an additional 46,542 shares during the period. Caxton Associates LP lifted its position in shares of Kraft Heinz by 66.6% in the fourth quarter. Caxton Associates LP now owns 60,471 shares of the company’s stock valued at $1,857,000 after buying an additional 24,163 shares during the last quarter. Finally, Banque de Luxembourg S.A. bought a new position in shares of Kraft Heinz during the 4th quarter worth approximately $1,511,000. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on KHC. The Goldman Sachs Group reduced their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 price target on the stock. Sanford C. Bernstein downgraded shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Piper Sandler lowered their target price on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, February 13th. Finally, Citigroup restated a “sell” rating and issued a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Four investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.65.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $28.08 on Friday. The company has a 50 day moving average of $29.61 and a 200-day moving average of $30.41. The company has a market cap of $33.23 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. 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 Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $36.70.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue was down 6.4% compared to the same quarter last year. As a group, equities research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio is presently 73.06%.

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.