Envestnet Portfolio Solutions Inc. Decreases Stake in Kraft Heinz Company (NASDAQ:KHC)

Envestnet Portfolio Solutions Inc. lowered its position in Kraft Heinz Company (NASDAQ:KHC) by 55.7% during the first quarter, HoldingsChannel reports. The firm owned 16,875 shares of the company’s stock after selling 21,184 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Kraft Heinz were worth $514,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after acquiring an additional 14,996,486 shares during the period. Norges Bank purchased a new position in shares of Kraft Heinz during the 4th quarter worth $324,857,000. Southeastern Asset Management Inc. TN purchased a new position in shares of Kraft Heinz during the 4th quarter worth $87,080,000. Fairfax Financial Holdings Ltd. Can raised its holdings in shares of Kraft Heinz by 341.9% during the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company’s stock worth $101,773,000 after acquiring an additional 2,564,000 shares during the period. Finally, Criteria Caixa S.A.U. purchased a new position in shares of Kraft Heinz during the 4th quarter worth $73,316,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on KHC shares. DZ Bank lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a report on Friday, May 9th. Cfra Research lowered shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 16th. Wall Street Zen upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Citigroup restated a “sell” rating and issued a $27.00 price objective (down from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Finally, Sanford C. Bernstein lowered shares of Kraft Heinz from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Three analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.47.

Kraft Heinz Trading Up 0.2%

NASDAQ:KHC opened at $25.79 on Friday. Kraft Heinz Company has a 12-month low of $25.53 and a 12-month high of $36.53. The firm has a market capitalization of $30.52 billion, a P/E ratio of 11.78, a P/E/G ratio of 3.01 and a beta of 0.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81. The business has a 50 day simple moving average of $27.38 and a 200 day simple moving average of $29.07.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm posted $0.69 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. Equities research analysts predict that Kraft Heinz Company will post 2.68 EPS for the current 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 paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio is presently 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.