Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC reduced its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 355,533 shares of the company's stock after selling 10,584 shares during the period. Manning & Napier Advisors LLC's holdings in Kraft Heinz were worth $10,819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KHC. Vanguard Group Inc. lifted its position in Kraft Heinz by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after purchasing an additional 14,996,486 shares during the period. Norges Bank acquired a new position in Kraft Heinz during the fourth quarter valued at $324,857,000. Southeastern Asset Management Inc. TN acquired a new position in Kraft Heinz during the fourth quarter valued at $87,080,000. Fairfax Financial Holdings Ltd. Can lifted its position in Kraft Heinz by 341.9% during the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock valued at $101,773,000 after purchasing an additional 2,564,000 shares during the period. Finally, Criteria Caixa S.A.U. acquired a new position in Kraft Heinz during the fourth quarter valued at $73,316,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

NASDAQ KHC traded up $0.12 during trading hours on Monday, hitting $25.92. 15,040,525 shares of the company's stock traded hands, compared to its average volume of 9,686,784. Kraft Heinz Company has a 52-week low of $25.53 and a 52-week high of $36.53. The company has a market capitalization of $30.68 billion, a PE ratio of 11.84, a PEG ratio of 3.02 and a beta of 0.27. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.31 and a quick ratio of 0.81. The firm's 50-day moving average is $27.66 and its 200-day moving average is $29.19.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data 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. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The company had revenue of $6 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same quarter in the prior year, the company earned $0.69 EPS. Kraft Heinz's revenue was down 6.4% compared to the same quarter last year. Equities analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 6.17%. Kraft Heinz's dividend payout ratio is presently 73.06%.

Wall Street Analyst Weigh In

A number of research analysts 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 target price for the company. in a research report on Friday, May 9th. Citigroup restated a "sell" rating and set a $27.00 target price (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Cfra Research cut shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Morgan Stanley began coverage on shares of Kraft Heinz in a report on Monday, March 24th. They issued an "underweight" rating and a $29.00 price objective for the company. Finally, Wall Street Zen raised shares of Kraft Heinz from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Four investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $30.35.

About Kraft Heinz

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.