Mackenzie Financial Corp Trims Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Mackenzie Financial Corp decreased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 24.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 797,020 shares of the company’s stock after selling 251,104 shares during the period. Mackenzie Financial Corp’s holdings in Kraft Heinz were worth $29,474,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in KHC. Raymond James Trust N.A. raised its holdings in Kraft Heinz by 11.0% in the 4th quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock worth $1,465,000 after purchasing an additional 3,916 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in shares of Kraft Heinz in the 3rd quarter worth about $5,399,000. Victory Capital Management Inc. increased its stake in shares of Kraft Heinz by 16.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock worth $59,478,000 after acquiring an additional 247,896 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Kraft Heinz by 42.5% in the 4th quarter. Cerity Partners LLC now owns 457,923 shares of the company’s stock worth $16,934,000 after acquiring an additional 136,556 shares in the last quarter. Finally, FMR LLC increased its stake in Kraft Heinz by 37.9% during the 3rd quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after purchasing an additional 832,653 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on KHC shares. Citigroup started coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price target on the stock. Wells Fargo & Company dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a report on Thursday, February 15th. Finally, Bank of America raised their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $40.71.

Kraft Heinz Stock Up 0.8 %

Shares of KHC opened at $36.90 on Thursday. The firm has a market capitalization of $44.86 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.89 and a beta of 0.67. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $41.47. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. The firm has a fifty day moving average price of $35.86 and a 200-day moving average price of $35.34.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The business’s revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.85 earnings per share. Equities research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.26%.

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.