Kornitzer Capital Management Inc. KS Acquires 17,101 Shares of Kraft Heinz Company (NASDAQ:KHC)

Kornitzer Capital Management Inc. KS lifted its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 350,723 shares of the company's stock after purchasing an additional 17,101 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Kraft Heinz were worth $10,673,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hara Capital LLC lifted its position in Kraft Heinz by 61.9% in the 4th quarter. Hara Capital LLC now owns 1,700 shares of the company's stock worth $52,000 after buying an additional 650 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in Kraft Heinz in the 4th quarter worth approximately $2,482,000. Sequoia Financial Advisors LLC lifted its position in Kraft Heinz by 21.4% in the 4th quarter. Sequoia Financial Advisors LLC now owns 30,606 shares of the company's stock worth $940,000 after buying an additional 5,394 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Kraft Heinz by 23.3% in the 4th quarter. Farther Finance Advisors LLC now owns 13,967 shares of the company's stock worth $429,000 after buying an additional 2,639 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kraft Heinz in the 4th quarter worth approximately $3,894,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of recent research reports. Cfra Research downgraded Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Citigroup reiterated a "sell" rating and issued a $27.00 price objective (down previously from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Stifel Nicolaus lowered their price objective on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Wells Fargo & Company boosted their price objective on Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, DZ Bank downgraded Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a research report on Friday, May 9th. Three 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, the stock currently has an average rating of "Hold" and an average price target of $30.41.

Kraft Heinz Stock Up 1.2%

KHC traded up $0.33 during trading on Wednesday, reaching $27.45. The stock had a trading volume of 10,992,196 shares, compared to its average volume of 10,543,398. The stock's 50 day moving average is $26.70 and its two-hundred day moving average is $28.67. 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 $32.48 billion, a price-to-earnings ratio of 12.55, a P/E/G ratio of 3.26 and a beta of 0.25. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.53.

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

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 5.83%. Kraft Heinz's payout ratio is presently 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.