Snowden Capital Advisors LLC Reduces Stake in The Kraft Heinz Company (NASDAQ:KHC)

Snowden Capital Advisors LLC decreased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 11.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 53,316 shares of the company’s stock after selling 6,814 shares during the period. Snowden Capital Advisors LLC’s holdings in Kraft Heinz were worth $1,637,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Generali Investments Management Co LLC purchased a new stake in Kraft Heinz during the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at about $29,000. R Squared Ltd purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at about $34,000. OFI Invest Asset Management purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at about $36,000. Finally, Kennondale Capital Management LLC purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $27.74 on Friday. 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 business’s 50 day simple moving average is $29.22 and its two-hundred day simple moving average is $30.17. The stock has a market capitalization of $32.83 billion, a P/E ratio of 12.27, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a one year low of $27.14 and a one year high of $36.53.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. Analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 5.77%. Kraft Heinz’s dividend payout ratio (DPR) is currently 73.06%.

Analyst Ratings Changes

Several analysts have weighed in on KHC shares. The Goldman Sachs Group lowered their price target on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company lowered their price target on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Citigroup reaffirmed a “sell” rating and issued a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Sanford C. Bernstein cut Kraft Heinz from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Finally, Piper Sandler reduced their price objective on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Four analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average target price of $30.65.

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.