Rhumbline Advisers Sells 196,618 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Rhumbline Advisers trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 10.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,777,328 shares of the company's stock after selling 196,618 shares during the period. Rhumbline Advisers owned 0.15% of Kraft Heinz worth $54,084,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Generali Investments Management Co LLC acquired a new position in Kraft Heinz during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in Kraft Heinz during the fourth quarter valued at approximately $29,000. R Squared Ltd acquired a new position in Kraft Heinz during the fourth quarter valued at approximately $34,000. OFI Invest Asset Management acquired a new position in Kraft Heinz during the fourth quarter valued at approximately $36,000. Finally, Pinney & Scofield Inc. acquired a new position in Kraft Heinz during the fourth quarter valued at approximately $38,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Up 0.4%

Shares of KHC stock traded up $0.11 during trading on Friday, reaching $26.73. The company's stock had a trading volume of 6,554,748 shares, compared to its average volume of 9,518,084. The business has a fifty day moving average price of $28.26 and a 200-day moving average price of $29.60. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The company has a market cap of $31.64 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a one year low of $26.01 and a one year high of $36.53.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. The business had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The firm's revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 5.99%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's dividend payout ratio (DPR) is currently 73.06%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America cut shares of Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their price objective for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Mizuho set a $29.00 price target on shares of Kraft Heinz and gave the company a "neutral" rating in a report on Wednesday, May 28th. 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. Piper Sandler reduced their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a report on Thursday, February 13th. Finally, Sanford C. Bernstein cut shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their price target for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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.