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

Envestnet Portfolio Solutions Inc. reduced its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 55.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,875 shares of the company's stock after selling 21,184 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Kraft Heinz were worth $514,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in KHC. New York Life Investment Management LLC lifted its stake in shares of Kraft Heinz by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock valued at $3,995,000 after purchasing an additional 361 shares during the period. Checchi Capital Advisers LLC raised its holdings in Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock worth $223,000 after purchasing an additional 366 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in Kraft Heinz by 1.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock valued at $1,097,000 after buying an additional 370 shares during the period. Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of Kraft Heinz by 4.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock valued at $307,000 after buying an additional 386 shares in the last quarter. Finally, Johnson Investment Counsel Inc. grew its position in shares of Kraft Heinz by 1.6% in the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company's stock worth $779,000 after buying an additional 397 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded up $0.21 during midday trading on Monday, reaching $25.82. 18,620,783 shares of the company's stock traded hands, compared to its average volume of 9,930,552. 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 Company has a one year low of $25.44 and a one year high of $36.53. The company has a market cap of $30.56 billion, a price-to-earnings ratio of 11.79, a P/E/G ratio of 3.00 and a beta of 0.27. The stock has a 50 day moving average of $27.30 and a 200 day moving average of $29.00.

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

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 6.20%. Kraft Heinz's dividend payout ratio (DPR) is 73.06%.

Wall Street Analysts Forecast Growth

KHC has been the subject of several research reports. Citigroup reissued a "sell" rating and set a $27.00 price target (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Morgan Stanley started coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They set an "underweight" rating and a $29.00 target price for the company. Stifel Nicolaus lowered their target price 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 Kraft Heinz and gave the stock a "neutral" rating in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and raised their price objective for the company from $25.00 to $27.00 in a research report on Wednesday, June 25th. Three investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of "Hold" and an average target price of $30.47.

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.