DAVENPORT & Co LLC Sells 26,299 Shares of Kraft Heinz Company (NASDAQ:KHC)

DAVENPORT & Co LLC cut its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 149,424 shares of the company's stock after selling 26,299 shares during the period. DAVENPORT & Co LLC's holdings in Kraft Heinz were worth $4,547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KHC. Generali Investments Management Co LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Kraft Heinz during the fourth quarter worth about $29,000. OFI Invest Asset Management acquired a new stake in Kraft Heinz in the 4th quarter valued at approximately $36,000. Pinney & Scofield Inc. bought a new stake in Kraft Heinz in the 4th quarter valued at approximately $38,000. Finally, Abound Wealth Management lifted its stake in Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after acquiring an additional 1,157 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KHC shares. DZ Bank downgraded 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 research note on Wednesday, April 16th. Stifel Nicolaus reduced their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Finally, Morgan Stanley assumed coverage on Kraft Heinz in a report on Monday, March 24th. They set an "underweight" rating and a $29.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. According to MarketBeat, Kraft Heinz has a consensus rating of "Hold" and an average target price of $30.47.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $26.63 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $31.52 billion, a P/E ratio of 12.16, a P/E/G ratio of 3.16 and a beta of 0.25. Kraft Heinz Company has a 12 month low of $25.44 and a 12 month high of $36.53. The stock has a 50 day moving average of $27.03 and a 200-day moving average of $28.90.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The company's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.69 EPS. As a group, equities research analysts predict that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.01%. The ex-dividend date of this dividend was Friday, May 30th. Kraft Heinz's dividend payout ratio (DPR) is 73.06%.

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.

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