Intech Investment Management LLC Cuts Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

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Intech Investment Management LLC lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 30.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 360,857 shares of the company’s stock after selling 161,497 shares during the period. Intech Investment Management LLC’s holdings in Kraft Heinz were worth $12,035,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Sigma Planning Corp increased its position in Kraft Heinz by 6.5% during the third quarter. Sigma Planning Corp now owns 13,979 shares of the company’s stock valued at $466,000 after acquiring an additional 857 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Kraft Heinz by 0.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 222,555 shares of the company’s stock worth $7,422,000 after acquiring an additional 1,122 shares during the last quarter. Gabelli Funds LLC lifted its holdings in shares of Kraft Heinz by 76.5% in the 3rd quarter. Gabelli Funds LLC now owns 393,800 shares of the company’s stock worth $13,133,000 after acquiring an additional 170,650 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Kraft Heinz by 283.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 387,145 shares of the company’s stock worth $12,911,000 after acquiring an additional 286,052 shares during the last quarter. Finally, Credit Agricole S A lifted its holdings in shares of Kraft Heinz by 243.5% in the 3rd quarter. Credit Agricole S A now owns 52,980 shares of the company’s stock worth $1,767,000 after acquiring an additional 89,903 shares during the last quarter. Hedge funds and other institutional investors own 68.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on KHC shares. Morgan Stanley lifted their price objective on shares of Kraft Heinz from $38.00 to $41.00 and gave the company an “equal weight” rating in a report on Tuesday, December 20th. Exane BNP Paribas started coverage on shares of Kraft Heinz in a report on Tuesday, November 15th. They set a “neutral” rating and a $39.00 price objective for the company. Mizuho lifted their price objective on shares of Kraft Heinz from $48.00 to $50.00 in a report on Friday, January 6th. TheStreet upgraded shares of Kraft Heinz from a “c+” rating to a “b-” rating in a report on Wednesday, November 2nd. Finally, Wells Fargo & Company started coverage on shares of Kraft Heinz in a report on Tuesday, January 3rd. They set an “equal weight” rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $42.33.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Melissa Werneck sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $42.39, for a total transaction of $148,365.00. Following the sale, the executive vice president now owns 266,583 shares of the company’s stock, valued at approximately $11,300,453.37. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.40% of the company’s stock.

Kraft Heinz Stock Down 0.9 %

Shares of Kraft Heinz stock opened at $39.78 on Friday. The firm’s 50 day moving average price is $40.49 and its 200-day moving average price is $38.21. The company has a quick ratio of 0.50, a current ratio of 0.87 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 52-week low of $32.73 and a 52-week high of $44.87. The company has a market cap of $48.73 billion, a P/E ratio of 20.83, a PEG ratio of 2.99 and a beta of 0.73.

Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. Kraft Heinz had a net margin of 8.92% and a return on equity of 7.03%. The firm had revenue of $7.38 billion for the quarter, compared to the consensus estimate of $7.23 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, sell-side analysts predict that The Kraft Heinz Company will post 2.69 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 10th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date is Thursday, March 9th. Kraft Heinz’s payout ratio is currently 83.77%.

Kraft Heinz Profile

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The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015, and is headquartered in Pittsburgh, PA.