Gotham Asset Management LLC Lowers Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Gotham Asset Management LLC lowered its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 9.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,647 shares of the company's stock after selling 32,570 shares during the period. Gotham Asset Management LLC's holdings in Kraft Heinz were worth $10,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in KHC. Sawyer & Company Inc purchased a new stake in Kraft Heinz in the 4th quarter valued at approximately $25,000. Generali Investments Management Co LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $29,000. R Squared Ltd bought a new position in Kraft Heinz during the fourth quarter worth $34,000. Finally, OFI Invest Asset Management bought a new position in Kraft Heinz during the 4th quarter worth $36,000. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analysts Set New Price Targets

KHC has been the subject of a number of research reports. Bank of America lowered Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their price target for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Cfra Research cut Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. UBS Group cut their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating on the stock in a research note on Thursday, February 13th. Finally, Wells Fargo & Company dropped their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating for the company in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $30.65.

Kraft Heinz Price Performance

NASDAQ:KHC traded up $0.32 during mid-day trading on Thursday, hitting $27.49. 9,230,571 shares of the stock traded hands, compared to its average volume of 9,215,824. The company has a market cap of $32.54 billion, a PE ratio of 12.16, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a 12-month low of $27.14 and a 12-month high of $36.53. The business's 50-day moving average price is $29.38 and its 200 day moving average price is $30.29. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

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

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date is Friday, May 30th. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.

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.