44 Wealth Management LLC Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

44 Wealth Management LLC reduced its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 26.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 39,727 shares of the company’s stock after selling 13,960 shares during the period. 44 Wealth Management LLC’s holdings in Kraft Heinz were worth $1,220,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Fortitude Family Office LLC lifted its position in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Kraft Heinz during the third quarter worth $27,000. Sawyer & Company Inc purchased a new position in shares of Kraft Heinz in the fourth quarter valued at $25,000. Capital Performance Advisors LLP acquired a new stake in Kraft Heinz during the 3rd quarter valued at $33,000. Finally, Larson Financial Group LLC increased its stake in Kraft Heinz by 191.0% during the 3rd quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after buying an additional 636 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

KHC has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Citigroup lowered Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $34.00 to $28.00 in a research note on Thursday, February 13th. Barclays cut their target price on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Wells Fargo & Company decreased their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Three analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $30.86.

Kraft Heinz Trading Up 3.2 %

NASDAQ KHC opened at $31.13 on Friday. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The company has a 50-day simple moving average of $29.73 and a 200-day simple moving average of $32.56. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market capitalization of $37.20 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 3.39 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (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 analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s payout ratio is 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.