Mackenzie Financial Corp Has $19.51 Million Holdings in Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Mackenzie Financial Corp reduced its holdings in Kraft Heinz by 24.5%, owning 640,989 shares valued at approximately $19.5 million after selling 208,036 shares during the first quarter.
• Kraft Heinz's stock received mixed analyst ratings, with Cfra Research downgrading the rating from "moderate buy" to "hold", while Goldman Sachs upgraded the rating from "sell" to "neutral".
• The company announced a $0.40 quarterly dividend, representing an annual yield of 5.62%, with a payout ratio of 73.06% of its earnings.

Mackenzie Financial Corp trimmed its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 24.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 640,989 shares of the company's stock after selling 208,036 shares during the period. Mackenzie Financial Corp owned about 0.05% of Kraft Heinz worth $19,505,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in Kraft Heinz by 4,390.7% during the 1st quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock valued at $226,523,000 after purchasing an additional 7,278,295 shares during the last quarter. Southeastern Asset Management Inc. TN bought a new position in Kraft Heinz during the 4th quarter valued at about $87,080,000. Fairfax Financial Holdings Ltd. Can raised its stake in shares of Kraft Heinz by 341.9% in the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock worth $101,773,000 after acquiring an additional 2,564,000 shares during the last quarter. Criteria Caixa S.A.U. bought a new position in shares of Kraft Heinz in the fourth quarter worth about $73,316,000. Finally, Worldquant Millennium Advisors LLC raised its stake in shares of Kraft Heinz by 1,830.2% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,936,367 shares of the company's stock worth $59,466,000 after acquiring an additional 1,836,048 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction on Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the sale, the director directly owned 40,000 shares in the company, valued at approximately $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.35% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KHC. Stifel Nicolaus decreased their price objective 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. Cfra Research cut shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. DZ Bank cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a report on Friday, May 9th. Citigroup reiterated a "sell" rating and issued a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $30.35.

Kraft Heinz Price Performance

KHC stock traded down $1.03 during midday trading on Thursday, hitting $27.46. 17,620,142 shares of the stock were exchanged, compared to its average volume of 16,879,156. The stock's 50-day moving average price is $26.84 and its 200-day moving average price is $28.54. The stock has a market cap of $32.50 billion, a price-to-earnings ratio of -6.12, a PEG ratio of 3.34 and a beta of 0.25. Kraft Heinz Company has a fifty-two week low of $25.44 and a fifty-two week high of $36.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.07.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the business earned $0.78 earnings per share. The company's revenue was down 1.9% compared to the same quarter last year. Research analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.8%. Kraft Heinz's dividend payout ratio is presently -35.63%.

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.