Nisa Investment Advisors LLC Cuts Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Nisa Investment Advisors LLC lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 10.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 198,106 shares of the company’s stock after selling 24,117 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Kraft Heinz were worth $6,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hotchkis & Wiley Capital Management LLC acquired a new position in Kraft Heinz during the third quarter worth $411,304,000. State Street Corp boosted its position in shares of Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares during the period. Nordea Investment Management AB increased its holdings in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Kraft Heinz by 1,139.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,273,579 shares of the company’s stock valued at $39,112,000 after purchasing an additional 1,170,814 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Up 0.8 %

Shares of Kraft Heinz stock opened at $29.31 on Friday. The firm has a market cap of $35.44 billion, a PE ratio of 26.41, a P/E/G ratio of 3.45 and a beta of 0.48. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a fifty-two week low of $28.37 and a fifty-two week high of $38.96. The business’s fifty day moving average is $30.57 and its two-hundred day moving average is $33.13.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company earned $0.72 EPS. Analysts anticipate that The Kraft Heinz Company will post 3 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KHC. Stifel Nicolaus reduced their price target on shares of Kraft Heinz from $35.00 to $32.00 and set a “hold” rating for the company in a research report on Friday. Piper Sandler reiterated a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. The Goldman Sachs Group dropped their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Citigroup decreased their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Barclays dropped their target price on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $34.77.

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.