Kovitz Investment Group Partners LLC Reduces Position in The Kraft Heinz Company (NASDAQ:KHC)

Kovitz Investment Group Partners LLC cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 86.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 15,286 shares of the company's stock after selling 96,955 shares during the period. Kovitz Investment Group Partners LLC's holdings in Kraft Heinz were worth $469,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. New York Life Investment Management LLC raised its stake in Kraft Heinz by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock valued at $3,995,000 after purchasing an additional 361 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock valued at $223,000 after buying an additional 366 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. boosted its position in Kraft Heinz by 1.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock worth $1,097,000 after acquiring an additional 370 shares during the last quarter. Winch Advisory Services LLC grew its stake in Kraft Heinz by 20.1% during the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company's stock valued at $70,000 after acquiring an additional 380 shares in the last quarter. Finally, Cohen Investment Advisors LLC grew its stake in Kraft Heinz by 5.0% during the 4th quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company's stock valued at $315,000 after acquiring an additional 487 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 0.5 %

Shares of NASDAQ KHC traded up $0.14 during trading on Friday, reaching $28.64. The stock had a trading volume of 8,672,936 shares, compared to its average volume of 9,127,358. 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 company has a market cap of $33.90 billion, a P/E ratio of 12.67, a PEG ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $36.70. The business's 50-day moving average price is $29.86 and its 200-day moving average price is $30.67.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results 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 net margin of 10.62% and a return on equity of 7.58%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. On average, equities research analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm 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 $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 5.59%. Kraft Heinz's dividend payout ratio is presently 73.06%.

Analyst Ratings Changes

Several research analysts have recently weighed in on KHC shares. Bank of America cut Kraft Heinz from a "buy" rating to an "underperform" rating and lowered their target price for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Cfra Research lowered Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Wells Fargo & Company cut their target price on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating for the company in a research note on Thursday, February 13th. Sanford C. Bernstein lowered Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. Finally, TD Cowen dropped their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Four equities research analysts have rated the stock with a sell rating and fourteen have assigned a hold rating to the company's stock. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of "Hold" and an average price target of $30.63.

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.