Birmingham Capital Management Co. Inc. AL Sells 5,882 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Birmingham Capital Management Co. Inc. AL trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 8.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 63,445 shares of the company’s stock after selling 5,882 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Kraft Heinz were worth $1,948,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after buying an additional 14,996,486 shares during the period. Norges Bank bought a new position in shares of Kraft Heinz during the 4th quarter worth approximately $324,857,000. Southeastern Asset Management Inc. TN bought a new position in shares of Kraft Heinz during the 4th quarter worth approximately $87,080,000. Fairfax Financial Holdings Ltd. Can lifted its position in shares of Kraft Heinz by 341.9% during the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company’s stock worth $101,773,000 after buying an additional 2,564,000 shares during the period. Finally, Criteria Caixa S.A.U. bought a new position in shares of Kraft Heinz during the 4th quarter worth approximately $73,316,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Down 0.8%

NASDAQ KHC opened at $26.30 on Tuesday. The stock has a fifty day moving average of $28.82 and a 200-day moving average of $29.88. The stock has a market capitalization of $31.13 billion, a P/E ratio of 11.64, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a 52 week low of $26.01 and a 52 week high of $36.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.08%. The ex-dividend date is Friday, May 30th. Kraft Heinz’s dividend payout ratio is 73.06%.

Analysts Set New Price Targets

Several brokerages recently issued reports on KHC. Wells Fargo & Company cut their price target on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. JPMorgan Chase & Co. cut their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Morgan Stanley began coverage on shares of Kraft Heinz in a report on Monday, March 24th. They set an “underweight” rating and a $29.00 price target for the company. The Goldman Sachs Group cut their price target 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. Finally, DZ Bank cut Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Friday, May 9th. Four analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $30.65.

About Kraft Heinz

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.