Principal Financial Group Inc. Trims Holdings in The Kraft Heinz Company (NASDAQ:KHC)


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Principal Financial Group Inc. decreased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 855,461 shares of the company’s stock after selling 38,493 shares during the quarter. Principal Financial Group Inc. owned about 0.07% of The Kraft Heinz worth $29,650,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Amundi Pioneer Asset Management Inc. grew its stake in shares of The Kraft Heinz by 22.8% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock valued at $21,358,000 after buying an additional 121,281 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in The Kraft Heinz by 2.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 29,448 shares of the company’s stock worth $882,000 after purchasing an additional 610 shares in the last quarter. Allianz Asset Management GmbH grew its stake in The Kraft Heinz by 192.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 95,848 shares of the company’s stock worth $2,870,000 after purchasing an additional 63,091 shares in the last quarter. Public Sector Pension Investment Board grew its stake in The Kraft Heinz by 60.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 96,361 shares of the company’s stock worth $2,886,000 after purchasing an additional 36,262 shares in the last quarter. Finally, State of Tennessee Treasury Department grew its stake in The Kraft Heinz by 32.4% during the 3rd quarter. State of Tennessee Treasury Department now owns 375,574 shares of the company’s stock worth $11,249,000 after purchasing an additional 91,904 shares in the last quarter. 58.93% of the stock is owned by institutional investors.

A number of analysts have issued reports on the company. Jefferies Financial Group lifted their price target on The Kraft Heinz from $32.00 to $34.00 and gave the stock a “hold” rating in a report on Tuesday, January 12th. Morgan Stanley lifted their price target on The Kraft Heinz from $35.00 to $38.00 and gave the stock an “equal weight” rating in a report on Friday, February 12th. Stifel Nicolaus lifted their price target on The Kraft Heinz from $33.00 to $38.00 and gave the stock a “hold” rating in a report on Friday, February 12th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $41.00 price target on shares of The Kraft Heinz in a report on Sunday, March 14th. Finally, Credit Suisse Group boosted their target price on The Kraft Heinz from $32.00 to $35.00 and gave the company an “underperform” rating in a report on Monday, March 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.14.

NASDAQ KHC opened at $40.64 on Thursday. The company has a current ratio of 1.31, a quick ratio of 0.96 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average is $38.53 and its two-hundred day moving average is $34.05. The Kraft Heinz Company has a 12-month low of $26.61 and a 12-month high of $41.21. The stock has a market capitalization of $49.71 billion, a price-to-earnings ratio of -101.60, a PEG ratio of 2.51 and a beta of 1.00.

The Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 10th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.06. The business had revenue of $6.94 billion for the quarter, compared to analysts’ expectations of $6.88 billion. The Kraft Heinz had a positive return on equity of 6.80% and a negative net margin of 1.92%. During the same quarter in the prior year, the firm posted $0.72 EPS. Equities analysts forecast that The Kraft Heinz Company will post 2.81 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 26th. Investors of record on Friday, March 12th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Thursday, March 11th. The Kraft Heinz’s dividend payout ratio is currently 56.14%.

The Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy, meals, meats and seafood, frozen and chilled foods, packaged drinking pouches, appetizers, nuts and salted snacks, refreshment beverages, coffee, infant and nutrition products, and other grocery products, as well as desserts, dressings, toppings, and baking.

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Institutional Ownership by Quarter for The Kraft Heinz (NASDAQ:KHC)

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