New England Asset Management Inc. Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

New England Asset Management Inc. reduced its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,150 shares of the company's stock after selling 12,050 shares during the period. New England Asset Management Inc.'s holdings in Kraft Heinz were worth $2,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock traded up $0.25 during trading on Friday, reaching $27.74. The company's stock had a trading volume of 8,892,694 shares, compared to its average volume of 9,238,470. The company has a 50-day moving average price of $29.29 and a two-hundred day moving average price of $30.24. The firm has a market cap of $32.83 billion, a PE ratio of 12.27, a P/E/G ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a fifty-two week low of $27.14 and a fifty-two week high of $36.53. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The business had revenue of $6 billion for 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 company's quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.69 EPS. On average, analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 5.77%. Kraft Heinz's payout ratio is 73.06%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KHC. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and cut their price objective for the company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. DZ Bank cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research report on Friday, May 9th. Mizuho lowered Kraft Heinz from an "outperform" rating to a "neutral" rating and decreased their price target for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Wells Fargo & Company cut their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Thursday, February 13th. Finally, Barclays cut their price target on Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a report on Friday, February 14th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of "Hold" and a consensus price target of $30.65.

Kraft Heinz Company 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.