CORDA Investment Management LLC. Decreases Position in The Kraft Heinz Company (NASDAQ:KHC)

CORDA Investment Management LLC. trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 749,601 shares of the company’s stock after selling 25,912 shares during the period. Kraft Heinz comprises about 1.8% of CORDA Investment Management LLC.’s portfolio, making the stock its 29th largest holding. CORDA Investment Management LLC.’s holdings in Kraft Heinz were worth $23,020,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp raised its holdings in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after buying an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Kraft Heinz during the third quarter worth about $411,304,000. Nordea Investment Management AB grew its stake in shares of Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares during the period. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on KHC. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $38.00 to $31.00 in a report on Monday, February 10th. Wells Fargo & Company dropped their price target on 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. Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $34.00 to $28.00 in a research report on Thursday, February 13th. Piper Sandler dropped their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Barclays reduced 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 research report on Friday, February 14th. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.86.

Kraft Heinz Stock Performance

Shares of KHC opened at $30.65 on Friday. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week 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. The stock has a market cap of $36.63 billion, a P/E ratio of 13.56, a P/E/G ratio of 3.39 and a beta of 0.47. The business’s 50 day moving average price is $29.77 and its 200-day moving average price is $32.45.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates 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 anticipate 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 announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.22%. Kraft Heinz’s dividend payout ratio is presently 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.