Berkshire Asset Management LLC PA Trims Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Berkshire Asset Management LLC PA cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 23.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 139,785 shares of the company's stock after selling 43,024 shares during the quarter. Berkshire Asset Management LLC PA's holdings in Kraft Heinz were worth $4,097,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of KHC. Charles Schwab Investment Management Inc. increased its holdings in shares of Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company's stock valued at $186,350,000 after purchasing an additional 545,504 shares in the last quarter. Banque Cantonale Vaudoise increased its holdings in shares of Kraft Heinz by 52.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company's stock valued at $5,988,000 after purchasing an additional 58,665 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of Kraft Heinz by 229.8% during the 4th quarter. Brookstone Capital Management now owns 342,880 shares of the company's stock valued at $10,530,000 after purchasing an additional 238,913 shares in the last quarter. Easterly Investment Partners LLC increased its holdings in shares of Kraft Heinz by 39.4% during the 3rd quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company's stock valued at $5,529,000 after purchasing an additional 44,485 shares in the last quarter. Finally, Toronto Dominion Bank increased its holdings in shares of Kraft Heinz by 12.6% during the 3rd quarter. Toronto Dominion Bank now owns 487,938 shares of the company's stock valued at $17,132,000 after purchasing an additional 54,656 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

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Kraft Heinz Stock Performance

Shares of KHC stock traded up $0.90 on Friday, hitting $32.18. 15,741,101 shares of the stock traded hands, compared to its average volume of 10,335,693. The company's fifty day moving average is $29.85 and its 200 day moving average is $32.29. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The company has a market capitalization of $38.45 billion, a PE ratio of 14.24, a PEG 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 - Get Free Report) last posted its quarterly 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 return on equity of 7.58% and a net margin of 10.62%. On average, equities research analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.97%. Kraft Heinz's dividend payout ratio (DPR) is presently 70.80%.

Analysts Set New Price Targets

Several equities research analysts recently commented on KHC shares. Wells Fargo & Company cut their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a report on Thursday, February 13th. Citigroup lowered shares of Kraft Heinz from a "buy" rating to a "neutral" rating and cut their price target for the stock from $34.00 to $28.00 in a report on Thursday, February 13th. Stifel Nicolaus cut their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a "hold" rating for the company in a report on Thursday, February 13th. Finally, Mizuho lowered shares of Kraft Heinz from an "outperform" rating to a "neutral" rating and cut their price target for the stock from $38.00 to $31.00 in a report on Monday, February 10th. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat.com, Kraft Heinz presently has a consensus rating of "Hold" and a consensus target price of $30.86.

About Kraft Heinz

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.