Rhumbline Advisers Lowers Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Rhumbline Advisers decreased its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 10.0% during the first quarter, according to its most recent 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 about 0.15% of Kraft Heinz worth $54,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Generali Investments Management Co LLC bought a new position in shares of Kraft Heinz during the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new stake in shares of Kraft Heinz in the 4th quarter worth approximately $29,000. R Squared Ltd purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at $34,000. OFI Invest Asset Management purchased a new position in Kraft Heinz in the 4th quarter worth $36,000. Finally, Pinney & Scofield Inc. purchased a new stake in Kraft Heinz during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Down 0.3%

KHC stock traded down $0.09 during midday trading on Wednesday, hitting $26.70. The stock had a trading volume of 14,244,918 shares, compared to its average volume of 9,515,940. The business has a 50-day moving average of $28.48 and a two-hundred day moving average of $29.68. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market cap of $31.60 billion, a price-to-earnings ratio of 11.81, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a 52-week low of $26.01 and a 52-week high of $36.53.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. The firm had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The company's revenue was down 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.69 EPS. As a group, equities research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 5.99%. Kraft Heinz's payout ratio is 73.06%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on KHC. Cfra Research downgraded Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. 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. Bank of America cut shares of Kraft Heinz from a "buy" rating to an "underperform" rating and cut their target price for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Morgan Stanley assumed coverage on shares of Kraft Heinz in a report on Monday, March 24th. They set an "underweight" rating and a $29.00 price target for the company. Finally, Piper Sandler cut their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a report on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target 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.