Parallel Advisors LLC Sells 1,432 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Parallel Advisors LLC lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 10.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,761 shares of the company’s stock after selling 1,432 shares during the period. Parallel Advisors LLC’s holdings in Kraft Heinz were worth $392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Hotchkis & Wiley Capital Management LLC bought a new stake in Kraft Heinz in the 3rd quarter worth approximately $411,304,000. State Street Corp raised its stake in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its holdings in shares of 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 during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of Kraft Heinz during the 4th quarter valued at $39,339,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Stock Down 0.6 %

Shares of NASDAQ KHC opened at $29.52 on Friday. The firm has a fifty day simple moving average of $29.92 and a two-hundred day simple moving average of $31.95. The firm has a market capitalization of $35.28 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. 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.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping 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%. Equities analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.42%. Kraft Heinz’s payout ratio is 70.80%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KHC. Mizuho lowered shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their price target for the company from $38.00 to $31.00 in a research report on Monday, February 10th. StockNews.com upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Wells Fargo & Company lowered their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Barclays dropped their price objective on 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, Stifel Nicolaus decreased their target price on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Two investment analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average price target 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.