Ingalls & Snyder LLC Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

Ingalls & Snyder LLC decreased its position in The Kraft Heinz Company (NASDAQ:KHC) by 1.3% during the fourth quarter, Holdings Channel reports. The firm owned 316,772 shares of the company’s stock after selling 4,177 shares during the quarter. Ingalls & Snyder LLC’s holdings in Kraft Heinz were worth $9,728,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its position in Kraft Heinz by 11.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares during the period. Banque Cantonale Vaudoise raised its position in Kraft Heinz by 52.5% in the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock valued at $5,988,000 after purchasing an additional 58,665 shares during the period. Brookstone Capital Management raised its position in Kraft Heinz by 229.8% in the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock valued at $10,530,000 after purchasing an additional 238,913 shares during the period. Easterly Investment Partners LLC raised its position in Kraft Heinz by 39.4% in the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock valued at $5,529,000 after purchasing an additional 44,485 shares during the period. Finally, Toronto Dominion Bank raised its position in Kraft Heinz by 12.6% in the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock valued at $17,132,000 after purchasing an additional 54,656 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $28.62 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $30.02 and a 200 day moving average price of $32.83. The company has a market cap of $34.61 billion, a P/E ratio of 25.78, a PEG ratio of 3.74 and a beta of 0.47. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Sell-side analysts predict that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.59%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Citigroup cut their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus cut their price objective on Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research report on Friday, January 24th. UBS Group cut their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. cut their price objective on Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating on the stock in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus price target of $33.36.

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.