Steel Grove Capital Advisors LLC Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

Steel Grove Capital Advisors LLC lowered its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 80.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,457 shares of the company’s stock after selling 39,849 shares during the period. Steel Grove Capital Advisors LLC’s holdings in Kraft Heinz were worth $290,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Te Ahumairangi Investment Management Ltd lifted its stake in shares of Kraft Heinz by 8.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 188,140 shares of the company’s stock worth $6,568,000 after acquiring an additional 14,300 shares in the last quarter. World Investment Advisors LLC boosted its stake in shares of Kraft Heinz by 30.9% during the 3rd quarter. World Investment Advisors LLC now owns 8,861 shares of the company’s stock valued at $311,000 after buying an additional 2,094 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Kraft Heinz by 754.4% during the third quarter. Wilmington Savings Fund Society FSB now owns 128,589 shares of the company’s stock worth $4,515,000 after buying an additional 113,538 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Kraft Heinz by 3.5% in the third quarter. Tidal Investments LLC now owns 84,675 shares of the company’s stock worth $2,973,000 after buying an additional 2,889 shares during the last quarter. Finally, Peapack Gladstone Financial Corp raised its holdings in Kraft Heinz by 13.3% in the third quarter. Peapack Gladstone Financial Corp now owns 59,554 shares of the company’s stock valued at $2,091,000 after acquiring an additional 7,004 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KHC has been the subject of several research analyst reports. Cfra Research downgraded shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research report on Wednesday, April 16th. Sanford C. Bernstein cut Kraft Heinz from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $34.00 to $31.00 in a research note on Tuesday. 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 report on Thursday, January 16th. Wells Fargo & Company dropped their price target on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Finally, Bank of America downgraded shares of Kraft Heinz from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Four analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.69.

Kraft Heinz Price Performance

NASDAQ KHC opened at $30.20 on Wednesday. The firm has a market capitalization of $36.04 billion, a PE ratio of 13.36, a P/E/G ratio of 3.39 and a beta of 0.44. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96. The company’s 50 day simple moving average is $30.02 and its 200 day simple moving average is $31.00.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly 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%. As a group, equities research analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were paid a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.30%. Kraft Heinz’s dividend payout ratio is currently 70.80%.

About Kraft Heinz

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.