Intact Investment Management Inc. Sells 46,400 Shares of Kraft Heinz Company (NASDAQ:KHC)

Intact Investment Management Inc. trimmed its position in Kraft Heinz Company (NASDAQ:KHC) by 30.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,500 shares of the company’s stock after selling 46,400 shares during the quarter. Intact Investment Management Inc.’s holdings in Kraft Heinz were worth $3,271,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Praxis Investment Management Inc. boosted its position in shares of Kraft Heinz by 58.7% during the first quarter. Praxis Investment Management Inc. now owns 22,250 shares of the company’s stock valued at $677,000 after buying an additional 8,230 shares during the period. Stonegate Investment Group LLC boosted its holdings in shares of Kraft Heinz by 15.2% in the first quarter. Stonegate Investment Group LLC now owns 32,523 shares of the company’s stock valued at $990,000 after purchasing an additional 4,291 shares during the period. Carret Asset Management LLC boosted its holdings in shares of Kraft Heinz by 1.7% in the first quarter. Carret Asset Management LLC now owns 63,304 shares of the company’s stock valued at $1,926,000 after purchasing an additional 1,030 shares during the period. Abundance Wealth Counselors boosted its holdings in shares of Kraft Heinz by 27.4% in the first quarter. Abundance Wealth Counselors now owns 48,232 shares of the company’s stock valued at $1,468,000 after purchasing an additional 10,372 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Kraft Heinz by 11.9% in the first quarter. Blue Trust Inc. now owns 4,455 shares of the company’s stock valued at $136,000 after purchasing an additional 474 shares during the period. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Trading Up 0.5%

Shares of KHC opened at $25.80 on Friday. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. The firm’s 50-day moving average is $27.66 and its two-hundred day moving average is $29.20. Kraft Heinz Company has a twelve month low of $25.53 and a twelve month high of $36.53. The firm has a market capitalization of $30.54 billion, a P/E ratio of 11.78, a PEG ratio of 3.02 and a beta of 0.27.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was down 6.4% compared to the same quarter last year. On average, research analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.20%. Kraft Heinz’s dividend payout ratio (DPR) is presently 73.06%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on KHC. Sanford C. Bernstein lowered Kraft Heinz from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $34.00 to $31.00 in a report on Tuesday, April 22nd. DZ Bank lowered 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. The Goldman Sachs Group lowered their target price on Kraft Heinz from $27.00 to $25.00 and set a “sell” rating for the company in a report on Monday, June 9th. Morgan Stanley began coverage on Kraft Heinz in a report on Monday, March 24th. They set an “underweight” rating and a $29.00 target price for the company. Finally, Citigroup restated a “sell” rating and set a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Four research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $30.35.

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.