Allspring Global Investments Holdings LLC Has $15.92 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Allspring Global Investments Holdings LLC trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 53.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 517,542 shares of the company’s stock after selling 597,428 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kraft Heinz were worth $15,923,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sawyer & Company Inc acquired a new position in Kraft Heinz during the 4th quarter worth approximately $25,000. Fortitude Family Office LLC boosted its stake in shares of 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 buying an additional 529 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz in the 3rd quarter valued at about $27,000. Capital Performance Advisors LLP acquired a new stake in shares of Kraft Heinz in the third quarter valued at about $33,000. Finally, Larson Financial Group LLC increased 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 buying an additional 636 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $28.92 on Monday. The stock has a market cap of $34.97 billion, a price-to-earnings ratio of 26.05, a P/E/G ratio of 3.74 and a beta of 0.47. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The company’s fifty day moving average is $29.90 and its 200 day moving average is $32.73. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results 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 5.24% and a return on equity of 7.46%. Sell-side analysts forecast that The Kraft Heinz Company will post 3 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared 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. This represents a $1.60 annualized dividend and a yield of 5.53%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Wall Street Analyst Weigh In

Several analysts have issued reports on KHC shares. Mizuho lowered Kraft Heinz from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Jefferies Financial Group cut their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Evercore ISI reissued an “in-line” rating and issued a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus dropped their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Company 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.