E Fund Management Co. Ltd. Cuts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

E Fund Management Co. Ltd. trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 9.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,633 shares of the company’s stock after selling 1,201 shares during the period. E Fund Management Co. Ltd.’s holdings in Kraft Heinz were worth $430,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. FSC Wealth Advisors LLC lifted its position in Kraft Heinz by 23.4% during the fourth quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock valued at $53,000 after acquiring an additional 270 shares during the last quarter. Archer Investment Corp lifted its holdings in shares of Kraft Heinz by 2.0% during the 4th quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock valued at $544,000 after purchasing an additional 294 shares during the last quarter. Ingalls & Snyder LLC boosted its position in shares of Kraft Heinz by 3.1% in the 4th quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock worth $370,000 after purchasing an additional 300 shares in the last quarter. Econ Financial Services Corp increased its position in Kraft Heinz by 0.6% during the 3rd quarter. Econ Financial Services Corp now owns 53,310 shares of the company’s stock valued at $1,793,000 after buying an additional 310 shares in the last quarter. Finally, Kennedy Investment Group raised its stake in Kraft Heinz by 1.1% in the fourth quarter. Kennedy Investment Group now owns 29,199 shares of the company’s stock valued at $1,080,000 after buying an additional 319 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Bank of America boosted their price target on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Finally, Citigroup assumed coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.50.

Insider Activity

In related news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock traded down $0.18 during trading on Thursday, hitting $35.71. 5,025,476 shares of the company’s stock were exchanged, compared to its average volume of 8,105,240. The stock has a market capitalization of $43.36 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 2.91 and a beta of 0.65. The business has a 50-day simple moving average of $36.35 and a 200-day simple moving average of $35.90. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $41.09. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same quarter last year, the business posted $0.68 EPS. The company’s revenue was down 1.2% on a year-over-year basis. On average, research analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.48%. Kraft Heinz’s payout ratio is 69.87%.

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.