Associated Banc Corp Sells 653 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Associated Banc Corp lowered its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,730 shares of the company’s stock after selling 653 shares during the period. Associated Banc Corp’s holdings in Kraft Heinz were worth $360,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. New York Life Investment Management LLC increased its position in Kraft Heinz by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock worth $3,995,000 after purchasing an additional 361 shares during the last quarter. Checchi Capital Advisers LLC increased its position in Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock worth $223,000 after purchasing an additional 366 shares during the last quarter. Winch Advisory Services LLC increased its position in Kraft Heinz by 20.1% in the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after purchasing an additional 380 shares during the last quarter. Cohen Investment Advisors LLC increased its position in Kraft Heinz by 5.0% in the fourth quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock worth $315,000 after purchasing an additional 487 shares during the last quarter. Finally, LMG Wealth Partners LLC increased its position in Kraft Heinz by 1.4% in the fourth quarter. LMG Wealth Partners LLC now owns 37,040 shares of the company’s stock worth $1,137,000 after purchasing an additional 498 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on KHC. Stifel Nicolaus reduced their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research report on Thursday, February 13th. Bank of America lowered shares of Kraft Heinz from a “buy” rating to an “underperform” rating and dropped their price objective for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Piper Sandler dropped their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Barclays dropped their price objective on shares of 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. Finally, Citigroup lowered shares of Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Two analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Stock Up 0.1 %

NASDAQ:KHC opened at $30.23 on Friday. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The company has a 50-day moving average of $29.86 and a 200 day moving average of $32.12. The firm has a market cap of $36.12 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

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

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.29%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

Kraft Heinz 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.