CORDA Investment Management LLC. Sells 25,912 Shares of The Kraft Heinz Company (NASDAQ:KHC)

CORDA Investment Management LLC. trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 749,601 shares of the company’s stock after selling 25,912 shares during the period. Kraft Heinz comprises about 1.8% of CORDA Investment Management LLC.’s holdings, making the stock its 29th largest position. CORDA Investment Management LLC. owned approximately 0.06% of Kraft Heinz worth $23,020,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Sawyer & Company Inc bought a new stake in Kraft Heinz during the fourth quarter worth $25,000. Fortitude Family Office LLC boosted its holdings in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz in the third quarter valued at about $27,000. Capital Performance Advisors LLP bought a new position in shares of Kraft Heinz during the third quarter valued at about $33,000. Finally, Larson Financial Group LLC boosted its holdings in Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after purchasing an additional 636 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $30.65 on Friday. The firm has a market capitalization of $36.63 billion, a P/E ratio of 13.56, a PEG ratio of 3.39 and a beta of 0.47. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. 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 has a fifty day moving average price of $29.77 and a 200-day moving average price of $32.45.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.40 dividend. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.22%. Kraft Heinz’s dividend payout ratio is currently 70.80%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Evercore ISI reiterated an “in-line” rating and set a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Barclays reduced their price objective on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a research note on Friday, February 14th. Stifel Nicolaus lowered their target price on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Finally, Jefferies Financial Group reduced their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a research report on Wednesday, January 29th. Three research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.86.

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.