Kornitzer Capital Management Inc. KS Trims Stock Position in Kraft Heinz Company $KHC

Kornitzer Capital Management Inc. KS reduced its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 1.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 344,987 shares of the company’s stock after selling 5,736 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Kraft Heinz were worth $8,908,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KHC. Vanguard Group Inc. lifted its holdings in Kraft Heinz by 12.7% in the first quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company’s stock valued at $3,103,277,000 after acquiring an additional 11,472,071 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Kraft Heinz by 4,390.7% during the 1st quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company’s stock valued at $226,523,000 after purchasing an additional 7,278,295 shares in the last quarter. Nuveen LLC purchased a new stake in Kraft Heinz during the first quarter worth $61,110,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kraft Heinz by 22.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company’s stock valued at $318,933,000 after buying an additional 1,895,722 shares during the period. Finally, Deutsche Bank AG increased its holdings in Kraft Heinz by 24.1% in the first quarter. Deutsche Bank AG now owns 6,460,347 shares of the company’s stock valued at $196,588,000 after buying an additional 1,255,022 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently commented on KHC. Stifel Nicolaus dropped their target price on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft dropped their price objective on Kraft Heinz from $28.00 to $27.00 and set a “hold” rating on the stock in a report on Monday, October 13th. Morgan Stanley reduced their target price on Kraft Heinz from $29.00 to $28.00 in a research note on Thursday, October 16th. DZ Bank raised shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research note on Friday, September 19th. Finally, Barclays cut their price target on shares of Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $28.65.

Kraft Heinz Stock Down 0.6%

NASDAQ KHC opened at $25.25 on Friday. The business has a fifty day moving average price of $26.33 and a 200 day moving average price of $27.13. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. The company has a market cap of $29.89 billion, a P/E ratio of -5.62, a P/E/G ratio of 2.96 and a beta of 0.16. Kraft Heinz Company has a one year low of $24.80 and a one year high of $35.17.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The business had revenue of $6.39 billion during the quarter. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. Research analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date was Friday, August 29th. Kraft Heinz’s payout ratio is currently -35.63%.

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.