Econ Financial Services Corp Decreases Stock Position in Kraft Heinz Company (NASDAQ:KHC)

Econ Financial Services Corp lowered its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 58.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,450 shares of the company's stock after selling 72,363 shares during the quarter. Econ Financial Services Corp's holdings in Kraft Heinz were worth $1,535,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in KHC. AssuredPartners Investment Advisors LLC grew its holdings in Kraft Heinz by 71.3% during the first quarter. AssuredPartners Investment Advisors LLC now owns 12,879 shares of the company's stock valued at $392,000 after purchasing an additional 5,360 shares during the period. Uncommon Cents Investing LLC lifted its position in shares of Kraft Heinz by 5.6% during the 1st quarter. Uncommon Cents Investing LLC now owns 79,714 shares of the company's stock valued at $2,426,000 after buying an additional 4,204 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Kraft Heinz by 0.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company's stock valued at $2,101,000 after acquiring an additional 397 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Kraft Heinz by 7.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 210,812 shares of the company's stock worth $6,415,000 after acquiring an additional 14,487 shares in the last quarter. Finally, XML Financial LLC raised its stake in Kraft Heinz by 19.3% during the 1st quarter. XML Financial LLC now owns 8,525 shares of the company's stock worth $259,000 after acquiring an additional 1,377 shares during the period. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Price Performance

NASDAQ:KHC traded down $0.30 during trading hours on Wednesday, reaching $25.73. The stock had a trading volume of 17,539,433 shares, compared to its average volume of 9,741,256. The stock has a market capitalization of $30.45 billion, a PE ratio of 11.75, a PEG ratio of 3.03 and a beta of 0.27. Kraft Heinz Company has a 52 week low of $25.53 and a 52 week high of $36.53. The company has a 50 day moving average price of $27.52 and a two-hundred day moving average price of $29.13. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31.

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 for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.02 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. Kraft Heinz's quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.69 earnings per share. As a group, sell-side analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.22%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's dividend payout ratio is 73.06%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KHC. Citigroup reiterated a "sell" rating and issued a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Sanford C. Bernstein downgraded shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. Wall Street Zen upgraded Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Stifel Nicolaus lowered their price objective on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Finally, Morgan Stanley assumed coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an "underweight" rating and a $29.00 price objective for the company. 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 company has an average rating of "Hold" and a consensus price target of $30.47.

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.