Mackenzie Financial Corp Lowers Stake in The Kraft Heinz Company (NASDAQ:KHC)

Mackenzie Financial Corp cut its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 38.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 849,025 shares of the company's stock after selling 521,372 shares during the period. Mackenzie Financial Corp owned approximately 0.07% of Kraft Heinz worth $26,074,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in KHC. Headlands Technologies LLC purchased a new position in Kraft Heinz in the fourth quarter worth about $2,048,000. SG Americas Securities LLC increased its position in Kraft Heinz by 511.7% during the fourth quarter. SG Americas Securities LLC now owns 42,706 shares of the company's stock valued at $1,312,000 after acquiring an additional 35,725 shares during the last quarter. 1834 Investment Advisors Co. purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at $470,000. Banque Pictet & Cie SA boosted its stake in shares of Kraft Heinz by 10.8% during the 4th quarter. Banque Pictet & Cie SA now owns 90,000 shares of the company's stock worth $2,764,000 after purchasing an additional 8,787 shares during the period. Finally, Perigon Wealth Management LLC bought a new position in Kraft Heinz during the 4th quarter valued at about $287,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Trading Down 1.1%

Shares of KHC stock traded down $0.29 on Wednesday, hitting $26.54. 9,081,768 shares of the stock traded hands, compared to its average volume of 9,416,114. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The Kraft Heinz Company has a twelve month low of $26.01 and a twelve month high of $36.53. The firm's 50-day moving average price is $28.76 and its two-hundred day moving average price is $29.86. The stock has a market capitalization of $31.41 billion, a PE ratio of 11.74, a PEG ratio of 3.39 and a beta of 0.30.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted 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. The business had revenue of $6 billion during the quarter, compared to analysts' expectations of $6.02 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The business's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.69 EPS. As a group, analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 6.03%. Kraft Heinz's dividend payout ratio is currently 73.06%.

Analyst Ratings Changes

KHC has been the subject of several recent analyst reports. Mizuho dropped their target price on Kraft Heinz from $31.00 to $29.00 and set a "neutral" rating for the company in a research report on Wednesday. Stifel Nicolaus cut their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Citigroup reissued a "sell" rating and issued a $27.00 price objective (down from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. DZ Bank downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research note on Friday, May 9th. Finally, Barclays decreased their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating for the company in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat.com, Kraft Heinz has a consensus rating of "Hold" and an average target price of $30.53.

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.