The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by M&T Bank Corp

M&T Bank Corp decreased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 2.4% in the fourth quarter, Holdings Channel reports. The firm owned 195,086 shares of the company’s stock after selling 4,793 shares during the period. M&T Bank Corp’s holdings in Kraft Heinz were worth $7,214,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. FSC Wealth Advisors LLC boosted its holdings in shares of Kraft Heinz by 23.4% in the 4th quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock valued at $53,000 after acquiring an additional 270 shares during the last quarter. Archer Investment Corp boosted its stake in shares of Kraft Heinz by 2.0% in the fourth quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock worth $544,000 after buying an additional 294 shares during the last quarter. Ingalls & Snyder LLC grew its holdings in Kraft Heinz by 3.1% during the fourth quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock worth $370,000 after acquiring an additional 300 shares during the period. Econ Financial Services Corp lifted its holdings in Kraft Heinz by 0.6% in the third quarter. Econ Financial Services Corp now owns 53,310 shares of the company’s stock valued at $1,793,000 after acquiring an additional 310 shares during the period. Finally, Kennedy Investment Group lifted its holdings in Kraft Heinz by 1.1% in the fourth quarter. Kennedy Investment Group now owns 29,199 shares of the company’s stock valued at $1,080,000 after acquiring an additional 319 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Citigroup began coverage on Kraft Heinz in a research report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price objective for the company. Wells Fargo & Company cut their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research report on Thursday, February 15th. Finally, Bank of America boosted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $39.50.

Kraft Heinz Trading Down 1.0 %

NASDAQ KHC opened at $36.35 on Monday. The firm’s 50-day moving average is $36.35 and its two-hundred day moving average is $35.81. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $41.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The stock has a market capitalization of $44.14 billion, a P/E ratio of 15.87, a PEG ratio of 2.91 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. Kraft Heinz’s revenue for the quarter was down 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.40%. Kraft Heinz’s payout ratio is currently 69.87%.

Kraft Heinz Company 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.