Zacks Investment Management Sells 60,661 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Zacks Investment Management trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,767 shares of the company's stock after selling 60,661 shares during the period. Zacks Investment Management's holdings in Kraft Heinz were worth $7,916,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KHC. Brookstone Capital Management lifted its position in Kraft Heinz by 229.8% in 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 during the last quarter. Headlands Technologies LLC acquired a new position in Kraft Heinz during the 4th quarter worth $2,048,000. Nordea Investment Management AB raised 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 lifted its position in Kraft Heinz by 121.0% in the fourth quarter. FLC Capital Advisors now owns 18,653 shares of the company's stock worth $573,000 after purchasing an additional 10,214 shares during the period. Finally, SG Americas Securities LLC lifted its position in shares of Kraft Heinz by 511.7% during the 4th quarter. SG Americas Securities LLC now owns 42,706 shares of the company's stock worth $1,312,000 after buying an additional 35,725 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Stifel Nicolaus lowered their price target on Kraft Heinz from $32.00 to $31.00 and set a "hold" rating on the stock in a research report on Thursday, February 13th. StockNews.com raised Kraft Heinz from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Morgan Stanley initiated coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They issued an "underweight" rating and a $29.00 price target on the stock. Finally, The Goldman Sachs Group lowered their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a research report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $30.67.

Kraft Heinz Trading Up 0.9 %

Shares of NASDAQ KHC traded up $0.26 during midday trading on Monday, hitting $29.72. 4,044,402 shares of the company traded hands, compared to its average volume of 9,041,015. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The Kraft Heinz Company has a 12-month low of $27.25 and a 12-month high of $38.96. The stock has a 50-day moving average price of $29.98 and a 200 day moving average price of $31.04. The firm has a market cap of $35.47 billion, a P/E ratio of 13.15, a P/E/G ratio of 3.39 and a beta of 0.44.

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 (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. As a group, analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.38%. The ex-dividend date was Friday, March 7th. Kraft Heinz's dividend payout ratio is currently 70.80%.

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.