Intact Investment Management Inc. Decreases Holdings in Kraft Heinz Company (NASDAQ:KHC)

Intact Investment Management Inc. lessened its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 30.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 107,500 shares of the company's stock after selling 46,400 shares during the quarter. Intact Investment Management Inc.'s holdings in Kraft Heinz were worth $3,271,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. New York Life Investment Management LLC raised its stake in shares of Kraft Heinz by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock worth $3,995,000 after acquiring an additional 361 shares in the last quarter. Checchi Capital Advisers LLC increased its stake in Kraft Heinz by 5.3% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock valued at $223,000 after purchasing an additional 366 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its stake in Kraft Heinz by 1.0% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock valued at $1,097,000 after purchasing an additional 370 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC increased its stake in 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 purchasing an additional 386 shares in the last quarter. Finally, Johnson Investment Counsel Inc. increased its stake in Kraft Heinz by 1.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company's stock valued at $779,000 after purchasing an additional 397 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KHC. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a "sell" rating on the stock in a research note on Monday, June 9th. Wall Street Zen upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Morgan Stanley began coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They set an "underweight" rating and a $29.00 price target on the stock. DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research note on Friday, May 9th. Finally, Sanford C. Bernstein lowered shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and cut their price target for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Four analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of "Hold" and an average target price of $30.35.

Kraft Heinz Stock Performance

NASDAQ KHC traded up $0.12 during mid-day trading on Friday, reaching $25.80. 24,837,077 shares of the stock were exchanged, compared to its average volume of 9,665,274. The business's 50 day moving average is $27.66 and its 200-day moving average is $29.19. Kraft Heinz Company has a 1 year low of $25.53 and a 1 year high of $36.53. The company has a market capitalization of $30.54 billion, a P/E ratio of 11.78, a P/E/G ratio of 3.02 and a beta of 0.27. 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the firm posted $0.69 earnings per share. The firm's quarterly revenue was down 6.4% compared to the same quarter last year. On average, equities research analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

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

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.