Cypress Capital Group reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 26.0% during the first quarter, Holdings Channel reports. The institutional investor owned 2,739 shares of the company’s stock after selling 962 shares during the period. Cypress Capital Group’s holdings in The Kraft Heinz were worth $249,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Gateway Investment Advisers LLC raised its stake in shares of The Kraft Heinz by 5.2% in the first quarter. Gateway Investment Advisers LLC now owns 378,339 shares of the company’s stock worth $34,357,000 after buying an additional 18,748 shares in the last quarter. Tiedemann Wealth Management LLC raised its position in shares of The Kraft Heinz by 6.4% in the first quarter. Tiedemann Wealth Management LLC now owns 47,256 shares of the company’s stock worth $4,291,000 after buying an additional 2,861 shares during the period. Cape Cod Five Cents Savings Bank raised its position in shares of The Kraft Heinz by 9.3% in the first quarter. Cape Cod Five Cents Savings Bank now owns 4,698 shares of the company’s stock worth $427,000 after buying an additional 399 shares during the period. Pillar Pacific Capital Management LLC raised its position in shares of The Kraft Heinz by 7.6% in the first quarter. Pillar Pacific Capital Management LLC now owns 3,693 shares of the company’s stock worth $335,000 after buying an additional 262 shares during the period. Finally, K2 Principal Fund L.P. raised its position in shares of The Kraft Heinz by 338.8% in the first quarter. K2 Principal Fund L.P. now owns 14,507 shares of the company’s stock worth $1,317,000 after buying an additional 11,201 shares during the period. Hedge funds and other institutional investors own 62.01% of the company’s stock.

Shares of The Kraft Heinz Company (KHC) traded up 0.68% during trading on Friday, reaching $86.47. 2,539,485 shares of the company were exchanged. The stock has a market capitalization of $105.34 billion, a PE ratio of 27.71 and a beta of 0.44. The Kraft Heinz Company has a one year low of $79.69 and a one year high of $97.77. The stock has a 50-day moving average price of $86.07 and a 200-day moving average price of $89.76.

The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The business had revenue of $6.68 billion during the quarter, compared to analysts’ expectations of $6.73 billion. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 EPS. Analysts forecast that The Kraft Heinz Company will post $3.24 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be given a dividend of $0.625 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.50 annualized dividend and a yield of 2.89%. This is a boost from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s dividend payout ratio is presently 76.68%.

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A number of equities analysts have recently commented on KHC shares. TheStreet upgraded shares of The Kraft Heinz from a “c” rating to a “b-” rating in a report on Thursday, August 3rd. Berenberg Bank started coverage on shares of The Kraft Heinz in a report on Wednesday, June 7th. They set a “buy” rating and a $102.00 price target on the stock. Royal Bank Of Canada set a $96.00 price target on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, June 3rd. Credit Suisse Group set a $100.00 price target on shares of The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, July 29th. Finally, Zacks Investment Research upgraded shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company. The Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $97.45.

About The Kraft Heinz

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

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Institutional Ownership by Quarter for The Kraft Heinz (NASDAQ:KHC)

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