Edgar Lomax Co. VA Lowers Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Edgar Lomax Co. VA trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 2.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 703,830 shares of the company’s stock after selling 16,680 shares during the quarter. Kraft Heinz accounts for about 1.4% of Edgar Lomax Co. VA’s holdings, making the stock its 28th biggest holding. Edgar Lomax Co. VA’s holdings in Kraft Heinz were worth $21,615,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after buying an additional 14,996,486 shares during the period. Norges Bank purchased a new stake in shares of Kraft Heinz in the fourth quarter worth $324,857,000. Thompson Siegel & Walmsley LLC increased its stake in Kraft Heinz by 96.4% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 2,858,253 shares of the company’s stock valued at $87,777,000 after purchasing an additional 1,403,220 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kraft Heinz during the fourth quarter valued at approximately $39,339,000. Finally, Nordea Investment Management AB raised its stake in shares of Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KHC has been the subject of several research reports. Piper Sandler decreased their price objective 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. Morgan Stanley began coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. UBS Group decreased their target price on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, TD Cowen cut their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Four research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $30.67.

Kraft Heinz Stock Up 2.3 %

Shares of NASDAQ KHC opened at $29.46 on Friday. 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 Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The firm’s 50-day moving average price is $29.98 and its 200-day moving average price is $31.08. The stock has a market capitalization of $35.16 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 3.39 and a beta of 0.44.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) 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%. On average, equities research analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.43%. The ex-dividend date was Friday, March 7th. Kraft Heinz’s payout ratio is 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.