Kornitzer Capital Management Inc. KS Sells 5,736 Shares of Kraft Heinz Company $KHC

Kornitzer Capital Management Inc. KS cut its stake in Kraft Heinz Company (NASDAQ:KHC) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new position in Kraft Heinz in the 1st quarter worth about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Kraft Heinz in the first quarter valued at approximately $33,000. Investment Management Corp VA ADV grew its stake in Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock worth $35,000 after purchasing an additional 669 shares in the last quarter. Banque Transatlantique SA bought a new position in Kraft Heinz in the first quarter worth approximately $40,000. Finally, Mid American Wealth Advisory Group Inc. bought a new stake in Kraft Heinz during the 2nd quarter valued at $39,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Down 0.6%

Shares of KHC stock opened at $25.25 on Friday. The stock’s fifty day moving average price is $26.33 and its 200 day moving average price is $27.13. Kraft Heinz Company has a 1-year low of $24.80 and a 1-year high of $35.17. The company has a market cap of $29.89 billion, a price-to-earnings ratio of -5.62, a price-to-earnings-growth ratio of 2.96 and a beta of 0.16. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66.

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

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were paid a $0.40 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a yield of 6.3%. Kraft Heinz’s dividend payout ratio (DPR) is -35.63%.

Analysts Set New Price Targets

Several brokerages have recently commented on KHC. UBS Group cut their price target on Kraft Heinz from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Weiss Ratings restated a “sell (d)” rating on shares of Kraft Heinz in a report on Saturday. Hsbc Global Res upgraded shares of Kraft Heinz to a “hold” rating in a research note on Friday, August 1st. Barclays lowered their target price on Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating for the company in a report on Friday, October 10th. Finally, JPMorgan Chase & Co. initiated coverage on Kraft Heinz in a report on Wednesday, August 20th. They issued a “neutral” rating and a $27.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $28.65.

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.