Tcfg Wealth Management LLC Reduces Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Tcfg Wealth Management LLC reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 16.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,751 shares of the company’s stock after selling 2,721 shares during the period. Tcfg Wealth Management LLC’s holdings in Kraft Heinz were worth $422,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC increased its stake in Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Kraft Heinz in the third quarter valued at approximately $411,304,000. Nordea Investment Management AB increased its stake in Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Kraft Heinz by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after acquiring an additional 545,504 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KHC has been the subject of several research analyst reports. Wells Fargo & Company decreased their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday. Bank of America downgraded Kraft Heinz from a “buy” rating to an “underperform” rating and decreased their price objective for the company from $36.00 to $30.00 in a report on Thursday. Stifel Nicolaus decreased their price objective on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday. UBS Group decreased their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Piper Sandler decreased their price objective on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Trading Down 1.1 %

NASDAQ:KHC opened at $28.92 on Friday. The stock has a fifty day moving average price of $29.90 and a two-hundred day moving average price of $32.74. The stock has a market capitalization of $34.97 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 3.74 and a beta of 0.47. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s payout ratio is 144.14%.

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.