Optimum Investment Advisors Reduces Position in Kraft Heinz Company (NASDAQ:KHC)

Optimum Investment Advisors lessened its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 23.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,300 shares of the company’s stock after selling 1,000 shares during the period. Optimum Investment Advisors’ holdings in Kraft Heinz were worth $100,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of KHC. Generali Investments Management Co LLC purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $29,000. Rossby Financial LCC purchased a new position in shares of Kraft Heinz during the first quarter valued at approximately $29,000. Wayfinding Financial LLC purchased a new position in shares of Kraft Heinz during the first quarter valued at approximately $33,000. Finally, OFI Invest Asset Management purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $36,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Mizuho set a $29.00 target price on Kraft Heinz and gave the company a “neutral” rating in a research report on Wednesday, May 28th. Wall Street Zen raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Morgan Stanley assumed coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They set an “underweight” rating and a $29.00 price target for the company. Stifel Nicolaus decreased their price target on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Finally, The Goldman Sachs Group raised shares of Kraft Heinz from a “sell” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $30.47.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $26.43 on Wednesday. The firm has a 50 day moving average of $26.87 and a 200 day moving average of $28.80. The company has a market capitalization of $31.28 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 3.05 and a beta of 0.25. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Kraft Heinz Company has a 52 week low of $25.44 and a 52 week high of $36.53.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 earnings per share. On average, sell-side analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.05%. The ex-dividend date of this dividend was Friday, May 30th. Kraft Heinz’s payout ratio is presently 73.06%.

Kraft Heinz Company 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.