DnB Asset Management AS Sells 95,307 Shares of The Kraft Heinz Company (NASDAQ:KHC)

DnB Asset Management AS reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 31.1% in the fourth quarter, Holdings Channel reports. The fund owned 211,099 shares of the company’s stock after selling 95,307 shares during the quarter. DnB Asset Management AS’s holdings in Kraft Heinz were worth $6,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sawyer & Company Inc bought a new stake in Kraft Heinz during the fourth quarter worth approximately $25,000. Generali Investments Management Co LLC purchased a new stake in Kraft Heinz during the 4th quarter valued at $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Kraft Heinz during the fourth quarter worth $29,000. Larson Financial Group LLC increased its position in Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after acquiring an additional 636 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Kraft Heinz during the 4th quarter worth about $34,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

NASDAQ KHC opened at $30.24 on Monday. The firm’s fifty day simple moving average is $29.99 and its two-hundred day simple moving average is $31.69. The firm has a market capitalization of $36.14 billion, a P/E ratio of 13.38, a P/E/G ratio of 3.39 and a beta of 0.40. 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 Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96.

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

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Mizuho downgraded shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $38.00 to $31.00 in a research note on Monday, February 10th. Evercore ISI reiterated an “in-line” rating and set a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Barclays cut their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. TD Cowen dropped their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Finally, StockNews.com raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Three analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $30.73.

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.