RWWM Inc. Cuts Stake in The Kraft Heinz Company (NASDAQ:KHC)

RWWM Inc. lessened its position in The Kraft Heinz Company (NASDAQ:KHC) by 21.7% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,881,362 shares of the company’s stock after selling 521,409 shares during the quarter. Kraft Heinz comprises approximately 5.3% of RWWM Inc.’s portfolio, making the stock its 7th largest holding. RWWM Inc.’s holdings in Kraft Heinz were worth $57,777,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Townsquare Capital LLC boosted its holdings in Kraft Heinz by 28.2% in the 4th quarter. Townsquare Capital LLC now owns 34,728 shares of the company’s stock valued at $1,067,000 after purchasing an additional 7,644 shares during the period. Quinn Opportunity Partners LLC grew its position in Kraft Heinz by 73.2% during the 4th quarter. Quinn Opportunity Partners LLC now owns 108,815 shares of the company’s stock worth $3,342,000 after acquiring an additional 46,000 shares during the last quarter. Heritage Trust Co bought a new position in Kraft Heinz in the 4th quarter valued at approximately $413,000. CenterBook Partners LP acquired a new position in shares of Kraft Heinz during the fourth quarter worth $4,660,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at about $39,339,000. Institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

KHC has been the topic of several research analyst reports. Jefferies Financial Group cut their target price on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Evercore ISI reiterated an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $38.00 to $31.00 in a research report on Monday, February 10th. Wells Fargo & Company lowered their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Finally, StockNews.com upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.67.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $29.33 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The company has a market capitalization of $35.00 billion, a PE ratio of 12.98, a P/E/G ratio of 3.39 and a beta of 0.44. The company has a 50 day moving average price of $29.95 and a 200-day moving average price of $31.25. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96.

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

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.46%. Kraft Heinz’s dividend payout ratio is presently 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.