Thompson Siegel & Walmsley LLC Cuts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Thompson Siegel & Walmsley LLC decreased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 42.4% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 245,831 shares of the company’s stock after selling 181,253 shares during the period. Thompson Siegel & Walmsley LLC’s holdings in Kraft Heinz were worth $8,727,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in Kraft Heinz by 10.4% during the 1st quarter. BlackRock Inc. now owns 76,422,467 shares of the company’s stock valued at $2,955,257,000 after buying an additional 7,196,843 shares during the last quarter. Vanguard Group Inc. raised its holdings in Kraft Heinz by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 57,382,888 shares of the company’s stock valued at $2,260,312,000 after buying an additional 1,491,398 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich raised its holdings in Kraft Heinz by 98,074.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 52,181,724 shares of the company’s stock worth $1,852,451,000 after purchasing an additional 52,128,572 shares in the last quarter. State Street Corp raised its holdings in Kraft Heinz by 4.4% in the 1st quarter. State Street Corp now owns 33,344,178 shares of the company’s stock worth $1,313,427,000 after purchasing an additional 1,397,795 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Kraft Heinz by 1,835.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock worth $794,964,000 after purchasing an additional 18,518,584 shares in the last quarter. 75.39% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on KHC shares. HSBC started coverage on shares of Kraft Heinz in a report on Friday, September 22nd. They issued a “hold” rating and a $38.00 price objective for the company. Piper Sandler upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock a “neutral” rating in a report on Thursday, November 2nd. Barclays reduced their target price on shares of Kraft Heinz from $38.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 12th. StockNews.com began coverage on shares of Kraft Heinz in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Bank of America reduced their target price on shares of Kraft Heinz from $48.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average price target of $40.50.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.15 during trading on Friday, reaching $33.66. 6,462,333 shares of the company traded hands, compared to its average volume of 7,297,106. The firm has a 50 day simple moving average of $32.85 and a 200-day simple moving average of $35.10. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $42.80. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $41.29 billion, a PE ratio of 13.91, a P/E/G ratio of 2.44 and a beta of 0.69.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.06. Kraft Heinz had a net margin of 11.00% and a return on equity of 7.63%. The firm had revenue of $6.57 billion for the quarter, compared to analysts’ expectations of $6.70 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s quarterly revenue was up 1.0% on a year-over-year basis. Equities research analysts anticipate that The Kraft Heinz Company will post 2.96 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Thursday, November 30th. Kraft Heinz’s payout ratio is 66.12%.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.