TIAA Trust National Association Trims Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

TIAA Trust National Association trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,245 shares of the company’s stock after selling 653 shares during the period. TIAA Trust National Association’s holdings in Kraft Heinz were worth $284,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of KHC. Thrivent Financial for Lutherans increased its position in Kraft Heinz by 23.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company’s stock worth $1,848,000 after purchasing an additional 9,833 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Kraft Heinz by 191.0% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after buying an additional 636 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Kraft Heinz by 9.4% during the third quarter. The Manufacturers Life Insurance Company now owns 544,638 shares of the company’s stock valued at $19,122,000 after buying an additional 46,740 shares during the period. D.A. Davidson & CO. boosted its position in Kraft Heinz by 3.2% during the third quarter. D.A. Davidson & CO. now owns 98,510 shares of the company’s stock worth $3,459,000 after acquiring an additional 3,054 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in Kraft Heinz in the 3rd quarter worth approximately $81,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group reduced their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Barclays decreased their price target on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research note on Friday, February 14th. Evercore ISI reaffirmed an “in-line” rating and set a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Piper Sandler decreased their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Mizuho lowered shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $38.00 to $31.00 in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.73.

Kraft Heinz Stock Up 0.6 %

Shares of Kraft Heinz stock opened at $30.24 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 market cap of $36.14 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth 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 company has a fifty day moving average price of $29.99 and a 200 day moving average price of $31.74.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping 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%. Equities research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.29%. Kraft Heinz’s dividend payout ratio is currently 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.