Lincoln National Corp Sells 1,127 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Lincoln National Corp trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 4.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,260 shares of the company’s stock after selling 1,127 shares during the quarter. Lincoln National Corp’s holdings in Kraft Heinz were worth $934,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in KHC. Invesco Ltd. boosted its position in shares of Kraft Heinz by 10.7% during the third quarter. Invesco Ltd. now owns 24,601,098 shares of the company’s stock worth $827,581,000 after acquiring an additional 2,369,080 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Kraft Heinz by 86.0% during the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock valued at $155,671,000 after purchasing an additional 2,140,153 shares in the last quarter. LSV Asset Management increased its holdings in shares of Kraft Heinz by 27.1% in the third quarter. LSV Asset Management now owns 9,263,400 shares of the company’s stock worth $311,621,000 after purchasing an additional 1,977,571 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Kraft Heinz by 3,167.3% in the third quarter. Nordea Investment Management AB now owns 1,869,778 shares of the company’s stock worth $63,198,000 after buying an additional 1,812,551 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Kraft Heinz by 7.2% during the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after buying an additional 850,326 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $35.71 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The firm has a market capitalization of $43.36 billion, a P/E ratio of 15.59, a price-to-earnings-growth ratio of 2.91 and a beta of 0.65. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $41.09. The company’s 50-day moving average is $36.35 and its 200 day moving average is $35.90.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the prior year, the business posted $0.68 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.48%. The ex-dividend date is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Activity at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on KHC. Bank of America upped their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Citigroup initiated coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They set a “buy” rating and a $43.00 price target on the stock. Wells Fargo & Company lowered their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus price target of $39.50.

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.