Corient Private Wealth LLC Cuts Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Corient Private Wealth LLC decreased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,317 shares of the company’s stock after selling 15,432 shares during the quarter. Corient Private Wealth LLC’s holdings in Kraft Heinz were worth $5,906,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. one8zero8 LLC purchased a new stake in Kraft Heinz during the 4th quarter worth about $232,000. Intact Investment Management Inc. increased its holdings in Kraft Heinz by 9.2% during the 4th quarter. Intact Investment Management Inc. now owns 153,900 shares of the company’s stock worth $4,726,000 after purchasing an additional 12,930 shares during the period. Aviso Financial Inc. increased its holdings in Kraft Heinz by 25,449.2% during the 4th quarter. Aviso Financial Inc. now owns 15,585 shares of the company’s stock worth $479,000 after purchasing an additional 15,524 shares during the period. Thompson Siegel & Walmsley LLC increased its holdings in Kraft Heinz by 96.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,858,253 shares of the company’s stock worth $87,777,000 after purchasing an additional 1,403,220 shares during the period. Finally, HBK Sorce Advisory LLC increased its holdings in Kraft Heinz by 18.8% during the 4th quarter. HBK Sorce Advisory LLC now owns 7,937 shares of the company’s stock worth $244,000 after purchasing an additional 1,254 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.6 %

Kraft Heinz stock opened at $29.52 on Friday. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The stock has a 50 day moving average of $29.92 and a two-hundred day moving average of $31.95. 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 stock has a market capitalization of $35.28 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 3.39 and a beta of 0.40.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping 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%. As a group, research analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.42%. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Analyst Ratings Changes

A number of research firms have recently commented on KHC. Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $28.00 in a report on Thursday, February 13th. Bank of America downgraded Kraft Heinz from a “buy” rating to an “underperform” rating and dropped their price objective for the company from $36.00 to $30.00 in a report on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Finally, Piper Sandler dropped their price objective on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Two analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus target price of $30.86.

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.