Envestnet Asset Management Inc. decreased its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 6.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,159,138 shares of the company's stock after selling 73,893 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.10% of Kraft Heinz worth $35,597,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. New York Life Investment Management LLC increased its holdings in shares of Kraft Heinz by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock valued at $3,995,000 after acquiring an additional 361 shares in the last quarter. Checchi Capital Advisers LLC raised its holdings in shares of Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock worth $223,000 after buying an additional 366 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Kraft Heinz by 1.0% in the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock worth $1,097,000 after buying an additional 370 shares during the last quarter. Winch Advisory Services LLC lifted its stake in shares of Kraft Heinz by 20.1% during the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company's stock worth $70,000 after buying an additional 380 shares during the period. Finally, Cohen Investment Advisors LLC grew its holdings in shares of Kraft Heinz by 5.0% during the fourth quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company's stock valued at $315,000 after buying an additional 487 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.
Kraft Heinz Price Performance
NASDAQ:KHC traded up $0.47 during trading hours on Monday, reaching $29.80. 8,230,517 shares of the company were exchanged, compared to its average volume of 9,043,893. 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 firm has a market cap of $35.56 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The stock's 50-day moving average is $29.97 and its 200-day moving average is $31.19.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share 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%. On average, sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.
Kraft Heinz Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz's dividend payout ratio is currently 70.80%.
Wall Street Analysts Forecast Growth
A number of analysts have commented on KHC shares. TD Cowen lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Jefferies Financial Group cut their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company decreased their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Morgan Stanley started coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They issued an "underweight" rating and a $29.00 price objective on the stock. Finally, Citigroup restated a "sell" rating and set a $27.00 target price (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Four research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $30.67.
Check Out Our Latest Analysis on Kraft Heinz
Kraft Heinz Profile
(
Free Report)
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.
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