First Trust Advisors LP lessened its holdings in Kraft Heinz Co (NASDAQ:KHC) by 16.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 307,371 shares of the company’s stock after selling 59,453 shares during the period. First Trust Advisors LP’s holdings in Kraft Heinz were worth $7,604,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in KHC. Norges Bank acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at $234,912,000. American International Group Inc. raised its holdings in Kraft Heinz by 45.6% in the 4th quarter. American International Group Inc. now owns 10,122,319 shares of the company’s stock worth $325,230,000 after acquiring an additional 3,171,699 shares during the period. Prudential PLC bought a new position in Kraft Heinz in the 1st quarter worth $71,466,000. LSV Asset Management bought a new position in Kraft Heinz in the 4th quarter worth $58,412,000. Finally, Capital International Investors raised its holdings in Kraft Heinz by 162.1% in the 4th quarter. Capital International Investors now owns 2,426,528 shares of the company’s stock worth $77,964,000 after acquiring an additional 1,500,646 shares during the period. 57.37% of the stock is owned by institutional investors and hedge funds.

KHC has been the topic of several recent analyst reports. Stifel Nicolaus lifted their target price on shares of Kraft Heinz from $30.00 to $33.00 and gave the stock a “hold” rating in a report on Friday, May 1st. Goldman Sachs Group upgraded shares of Kraft Heinz from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $27.00 to $28.00 in a report on Thursday, March 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $27.00 target price on shares of Kraft Heinz in a report on Tuesday, April 7th. DZ Bank upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating and set a $27.00 price objective on the stock in a report on Tuesday, April 21st. Finally, Morgan Stanley boosted their price objective on shares of Kraft Heinz from $26.00 to $28.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $30.39.

NASDAQ KHC opened at $29.95 on Friday. The stock has a market cap of $36.30 billion, a P/E ratio of 19.08, a PEG ratio of 2.07 and a beta of 1.00. The company’s 50-day simple moving average is $28.62 and its 200 day simple moving average is $29.05. Kraft Heinz Co has a twelve month low of $19.99 and a twelve month high of $33.43. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.62.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, April 30th. The company reported $0.58 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.04. The business had revenue of $6.16 billion for the quarter, compared to analysts’ expectations of $6.14 billion. Kraft Heinz had a net margin of 7.58% and a return on equity of 6.54%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.66 earnings per share. Research analysts anticipate that Kraft Heinz Co will post 2.39 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, May 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, May 28th. This represents a $1.60 dividend on an annualized basis and a yield of 5.34%. Kraft Heinz’s payout ratio is currently 56.14%.

Kraft Heinz Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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

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