Delta Asset Management LLC TN Has $337,000 Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Delta Asset Management LLC TN lowered its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 11.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,959 shares of the company’s stock after selling 1,371 shares during the period. Delta Asset Management LLC TN’s holdings in Kraft Heinz were worth $337,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its holdings in Kraft Heinz by 23.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company’s stock valued at $1,848,000 after buying an additional 9,833 shares during the last quarter. Pitcairn Co. bought a new position in shares of Kraft Heinz during the third quarter valued at $228,000. Larson Financial Group LLC lifted its holdings in shares of Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after purchasing an additional 636 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Kraft Heinz by 9.4% in the third quarter. The Manufacturers Life Insurance Company now owns 544,638 shares of the company’s stock worth $19,122,000 after purchasing an additional 46,740 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in Kraft Heinz by 3.2% in the third quarter. D.A. Davidson & CO. now owns 98,510 shares of the company’s stock valued at $3,459,000 after purchasing an additional 3,054 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently commented on KHC shares. Morgan Stanley began coverage on Kraft Heinz in a report on Monday. They issued an “underweight” rating and a $29.00 target price on the stock. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. Barclays decreased their price target on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. 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 research note on Thursday, February 13th. Finally, UBS Group decreased their target price on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Three analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $30.73.

Kraft Heinz Stock Up 2.0 %

Shares of NASDAQ:KHC opened at $29.69 on Thursday. The stock has a market cap of $35.48 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 3.39 and a beta of 0.40. The business’s 50 day moving average is $29.95 and its 200 day moving average is $31.79. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, sell-side analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business 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 $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.39%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s payout ratio is 70.80%.

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.