Gabelli Funds LLC Decreases Position in The Kraft Heinz Company (NASDAQ:KHC)

Gabelli Funds LLC trimmed its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 26.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 592,400 shares of the company's stock after selling 214,500 shares during the period. Gabelli Funds LLC's holdings in Kraft Heinz were worth $18,193,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Brookstone Capital Management raised its holdings in shares of Kraft Heinz by 229.8% in the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company's stock worth $10,530,000 after buying an additional 238,913 shares during the last quarter. Headlands Technologies LLC acquired a new stake in Kraft Heinz during the 4th quarter worth about $2,048,000. Nordea Investment Management AB grew its stake in Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. FLC Capital Advisors increased its holdings in shares of Kraft Heinz by 121.0% in the fourth quarter. FLC Capital Advisors now owns 18,653 shares of the company's stock valued at $573,000 after purchasing an additional 10,214 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of Kraft Heinz by 511.7% during the fourth quarter. SG Americas Securities LLC now owns 42,706 shares of the company's stock worth $1,312,000 after purchasing an additional 35,725 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Trading Up 0.8 %

KHC stock traded up $0.23 during midday trading on Monday, hitting $29.69. 1,507,659 shares of the company's stock were exchanged, compared to its average volume of 10,831,976. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. 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 stock has a market capitalization of $35.43 billion, a PE ratio of 13.14, a P/E/G ratio of 3.39 and a beta of 0.44. The business has a 50-day simple moving average of $29.98 and a two-hundred day simple moving average of $31.04.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) 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, sell-side analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.39%. Kraft Heinz's dividend payout ratio (DPR) is presently 70.80%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KHC. TD Cowen lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Evercore ISI reaffirmed an "in-line" rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Citigroup reissued a "sell" rating and set a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Bank of America lowered shares of Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their price target for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. cut their price objective on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.67.

Kraft Heinz 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.