Allspring Global Investments Holdings LLC Cuts Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Allspring Global Investments Holdings LLC lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 21.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,096,963 shares of the company’s stock after selling 300,621 shares during the period. Allspring Global Investments Holdings LLC owned about 0.09% of Kraft Heinz worth $40,566,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of KHC. OFI Invest Asset Management purchased a new position in Kraft Heinz during the 3rd quarter worth $26,000. Ancora Advisors LLC increased its holdings in shares of Kraft Heinz by 69.9% during the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after acquiring an additional 272 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at approximately $27,000. BKM Wealth Management LLC acquired a new stake in Kraft Heinz in the 4th quarter worth approximately $33,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Kraft Heinz during the 4th quarter worth approximately $35,000. 78.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on KHC. Wells Fargo & Company decreased their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Citigroup assumed coverage on Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 price target for the company. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average price target of $40.57.

Kraft Heinz Stock Down 0.7 %

Shares of KHC stock opened at $36.58 on Friday. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $41.47. The stock has a market cap of $44.47 billion, a P/E ratio of 15.84, a P/E/G ratio of 2.91 and a beta of 0.67. The stock has a 50 day moving average of $35.91 and a 200 day moving average of $35.27. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.01. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.99 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis. As a group, sell-side analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.26%.

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.