Mackenzie Financial Corp Acquires 389,080 Shares of Kraft Heinz Company $KHC

Mackenzie Financial Corp boosted its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 60.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,030,069 shares of the company’s stock after buying an additional 389,080 shares during the quarter. Mackenzie Financial Corp’s holdings in Kraft Heinz were worth $26,596,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. bought a new stake in Kraft Heinz during the 2nd quarter valued at $39,000. Banque Transatlantique SA bought a new position in shares of Kraft Heinz in the 1st quarter worth $40,000. Hilltop National Bank purchased a new stake in shares of Kraft Heinz during the 2nd quarter worth $41,000. MV Capital Management Inc. boosted its position in Kraft Heinz by 300.7% during the second quarter. MV Capital Management Inc. now owns 1,735 shares of the company’s stock valued at $45,000 after purchasing an additional 1,302 shares in the last quarter. Finally, Pinney & Scofield Inc. boosted its position in Kraft Heinz by 48.2% during the second quarter. Pinney & Scofield Inc. now owns 1,851 shares of the company’s stock valued at $48,000 after purchasing an additional 602 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.5%

KHC stock opened at $25.37 on Tuesday. The stock has a market capitalization of $30.03 billion, a PE ratio of -6.80, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. Kraft Heinz Company has a 52 week low of $23.70 and a 52 week high of $33.35. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $25.23 and a 200 day moving average of $26.36.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The business had revenue of $6.39 billion during the quarter. Sell-side analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a yield of 6.3%. Kraft Heinz’s dividend payout ratio (DPR) is -42.90%.

Wall Street Analysts Forecast Growth

KHC has been the subject of a number of recent research reports. Stifel Nicolaus reduced their target price on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. BNP Paribas Exane reduced their price objective on shares of Kraft Heinz from $29.00 to $26.00 in a research note on Thursday, October 30th. Evercore ISI decreased their target price on shares of Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating for the company in a research report on Thursday, October 30th. Jefferies Financial Group lowered their target price on shares of Kraft Heinz from $28.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Finally, Barclays cut their price target on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating on the stock in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Reduce” and an average price target of $26.58.

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.