The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can trimmed its stake in The Kraft Heinz Company (NASDAQ:KHC) by 1.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,731,026 shares of the company’s stock after selling 22,777 shares during the quarter. Bank of Montreal Can owned approximately 0.14% of Kraft Heinz worth $53,160,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KHC. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at approximately $25,000. Generali Investments Management Co LLC acquired a new stake in shares of Kraft Heinz during the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Kraft Heinz in the fourth quarter worth approximately $29,000. R Squared Ltd bought a new position in Kraft Heinz during the fourth quarter valued at approximately $34,000. Finally, OFI Invest Asset Management bought a new stake in Kraft Heinz in the fourth quarter worth approximately $36,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on KHC. Bank of America downgraded shares of Kraft Heinz from a “buy” rating to an “underperform” rating and cut their price target for the company from $36.00 to $30.00 in a report on Thursday, February 13th. StockNews.com raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Morgan Stanley assumed coverage on Kraft Heinz in a research report on Monday, March 24th. They set an “underweight” rating and a $29.00 target price for the company. TD Cowen dropped their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Piper Sandler decreased their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Four analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.67.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $29.10 on Thursday. The Kraft Heinz Company has a one year low of $27.25 and a one year high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The business has a fifty day simple moving average of $29.95 and a 200 day simple moving average of $31.33. The firm has a market capitalization of $34.73 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 3.39 and a beta of 0.44.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Sell-side analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.50%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

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.