Man Group plc Sells 36,920 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Man Group plc lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 11.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 287,368 shares of the company’s stock after selling 36,920 shares during the quarter. Man Group plc’s holdings in Kraft Heinz were worth $8,825,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Generali Investments Management Co LLC acquired a new position in Kraft Heinz in the fourth quarter worth about $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Kraft Heinz in the 4th quarter worth approximately $29,000. R Squared Ltd bought a new position in shares of Kraft Heinz during the 4th quarter worth approximately $34,000. OFI Invest Asset Management acquired a new stake in Kraft Heinz in the 4th quarter valued at $36,000. Finally, Kennondale Capital Management LLC bought a new stake in Kraft Heinz in the fourth quarter valued at $45,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on KHC shares. DZ Bank downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a research note on Friday, May 9th. Wells Fargo & Company reduced 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 report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. StockNews.com upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. decreased their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and an average target price of $30.65.

Kraft Heinz Trading Up 0.9%

KHC opened at $27.74 on Monday. 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 market cap of $32.83 billion, a price-to-earnings ratio of 12.27, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a 50 day simple moving average of $29.22 and a 200 day simple moving average of $30.15.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same quarter in the prior year, the business posted $0.69 EPS. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.77%. Kraft Heinz’s dividend payout ratio (DPR) is presently 73.06%.

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.