ORG Partners LLC cut its stake in Kraft Heinz Company (NASDAQ:KHC – Free Report) by 31.0% during the first quarter, HoldingsChannel reports. The fund owned 1,100 shares of the company’s stock after selling 495 shares during the quarter. ORG Partners LLC’s holdings in Kraft Heinz were worth $33,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of KHC. Vanguard Group Inc. boosted its holdings in Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after purchasing an additional 14,996,486 shares in the last quarter. Norges Bank bought a new stake in Kraft Heinz in the fourth quarter worth $324,857,000. Southeastern Asset Management Inc. TN bought a new stake in Kraft Heinz in the fourth quarter worth $87,080,000. Fairfax Financial Holdings Ltd. Can boosted its holdings in Kraft Heinz by 341.9% in the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company’s stock worth $101,773,000 after purchasing an additional 2,564,000 shares in the last quarter. Finally, Criteria Caixa S.A.U. bought a new stake in Kraft Heinz in the fourth quarter worth $73,316,000. 78.17% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on the stock. Morgan Stanley assumed coverage on shares of Kraft Heinz in a report on Monday, March 24th. They set an “underweight” rating and a $29.00 price target for the company. The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a “sell” rating for the company in a report on Monday, June 9th. Stifel Nicolaus decreased their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. Mizuho set a $29.00 price target on shares of Kraft Heinz and gave the company a “neutral” rating in a report on Wednesday, May 28th. Finally, Sanford C. Bernstein cut shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and an average price target of $30.35.
Kraft Heinz Stock Performance
NASDAQ:KHC opened at $25.80 on Monday. Kraft Heinz Company has a 12-month low of $25.53 and a 12-month high of $36.53. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $30.54 billion, a PE ratio of 11.78, a price-to-earnings-growth ratio of 3.02 and a beta of 0.27. The firm has a 50-day moving average price of $27.66 and a 200 day moving average price of $29.19.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The company’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.69 earnings per share. Research analysts anticipate that 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 will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s payout ratio is 73.06%.
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.
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