The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Meyer Handelman Co.

Meyer Handelman Co. trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 26.9% in the first quarter, Holdings Channel.com reports. The fund owned 20,165 shares of the company’s stock after selling 7,414 shares during the period. Meyer Handelman Co.’s holdings in Kraft Heinz were worth $614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of KHC. Generali Investments Management Co LLC acquired a new stake in Kraft Heinz in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. acquired a new stake in Kraft Heinz in the 4th quarter valued at about $29,000. R Squared Ltd acquired a new stake in Kraft Heinz in the 4th quarter valued at about $34,000. OFI Invest Asset Management acquired a new stake in Kraft Heinz in the 4th quarter valued at about $36,000. Finally, Pinney & Scofield Inc. acquired a new stake in Kraft Heinz in the 4th quarter valued at about $38,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KHC has been the subject of a number of research analyst reports. DZ Bank downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a report on Friday, May 9th. Piper Sandler cut their price objective on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a “neutral” rating in a report on Wednesday. Citigroup restated a “sell” rating and set a $27.00 price objective (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Finally, Bank of America downgraded Kraft Heinz from a “buy” rating to an “underperform” rating and cut their price objective for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.53.

Kraft Heinz Price Performance

Shares of KHC opened at $26.75 on Friday. The company has a market capitalization of $31.66 billion, a price-to-earnings ratio of 11.84, a P/E/G ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a fifty-two week low of $26.01 and a fifty-two week high of $36.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The business’s 50-day moving average is $28.61 and its 200-day moving average is $29.74.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The company 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 7.58% and a net margin of 10.62%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. Equities research analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 5.98%. Kraft Heinz’s dividend payout ratio is currently 73.06%.

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.