Clearstead Trust LLC Sells 400 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Clearstead Trust LLC cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 9.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,815 shares of the company’s stock after selling 400 shares during the period. Clearstead Trust LLC’s holdings in Kraft Heinz were worth $141,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. National Bank of Canada FI lifted its stake in Kraft Heinz by 44.2% in the fourth quarter. National Bank of Canada FI now owns 1,269,696 shares of the company’s stock valued at $48,379,000 after buying an additional 389,330 shares during the period. TCG Advisory Services LLC boosted its stake in Kraft Heinz by 80.7% during the fourth quarter. TCG Advisory Services LLC now owns 14,447 shares of the company’s stock worth $534,000 after acquiring an additional 6,454 shares in the last quarter. Royal Fund Management LLC acquired a new stake in Kraft Heinz in the fourth quarter worth $1,194,000. AJOVista LLC bought a new stake in Kraft Heinz in the fourth quarter valued at $97,000. Finally, Sapient Capital LLC acquired a new position in shares of Kraft Heinz during the fourth quarter valued at about $362,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on KHC. Wells Fargo & Company reduced their target price on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Bank of America boosted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft upped 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, April 18th. Finally, Citigroup assumed coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $39.50.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock traded down $0.37 during mid-day trading on Friday, hitting $36.35. 7,102,855 shares of the stock were exchanged, compared to its average volume of 7,314,267. The company has a market capitalization of $44.14 billion, a P/E ratio of 15.87, a P/E/G ratio of 2.89 and a beta of 0.65. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.54 and a current ratio of 1.09. The company has a 50-day simple moving average of $36.35 and a 200 day simple moving average of $35.81. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $41.44.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the previous year, the firm earned $0.68 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. Sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 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, June 28th. Shareholders of record on Thursday, June 6th will be paid a $0.40 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.40%. Kraft Heinz’s payout ratio is presently 69.87%.

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.