OVERSEA CHINESE BANKING Corp Ltd Cuts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in The Kraft Heinz Company (NASDAQ:KHC) by 47.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,530 shares of the company’s stock after selling 6,898 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Kraft Heinz were worth $277,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Kraft Heinz by 0.6% during the third quarter. Vanguard Group Inc. now owns 70,215,597 shares of the company’s stock valued at $2,362,053,000 after buying an additional 417,115 shares during the last quarter. State Street Corp grew its position in Kraft Heinz by 4.4% during the 1st quarter. State Street Corp now owns 33,344,178 shares of the company’s stock worth $1,313,427,000 after acquiring an additional 1,397,795 shares during the last quarter. Invesco Ltd. increased its stake in Kraft Heinz by 10.7% in the 3rd quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock worth $827,581,000 after purchasing an additional 2,369,080 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Kraft Heinz by 1,835.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock valued at $794,964,000 after purchasing an additional 18,518,584 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Kraft Heinz by 1.1% during the 1st quarter. Geode Capital Management LLC now owns 15,062,665 shares of the company’s stock valued at $581,169,000 after buying an additional 161,170 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Bank of America increased their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Wells Fargo & Company cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Citigroup initiated coverage on Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average target price of $40.57.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $37.78 on Monday. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $41.47. The firm has a 50 day moving average of $35.91 and a 200 day moving average of $35.41. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $45.93 billion, a price-to-earnings ratio of 16.36, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.99 billion. During the same period in the previous year, the firm earned $0.85 EPS. The business’s quarterly revenue was down 7.1% on a year-over-year basis. On average, research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.24%. Kraft Heinz’s dividend payout ratio is presently 69.26%.

Kraft Heinz 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.