Kraft Heinz Company (NASDAQ:KHC) Stock Position Cut by Kentucky Trust Co

Kentucky Trust Co decreased its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 5.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,832 shares of the company’s stock after selling 1,835 shares during the period. Kentucky Trust Co’s holdings in Kraft Heinz were worth $1,060,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of Kraft Heinz by 11.9% in the 1st quarter. Blue Trust Inc. now owns 4,455 shares of the company’s stock worth $136,000 after buying an additional 474 shares in the last quarter. Adams Asset Advisors LLC grew its holdings in Kraft Heinz by 2.6% during the first quarter. Adams Asset Advisors LLC now owns 324,692 shares of the company’s stock worth $9,880,000 after acquiring an additional 8,115 shares during the period. Premier Path Wealth Partners LLC raised its position in Kraft Heinz by 7.1% in the first quarter. Premier Path Wealth Partners LLC now owns 42,990 shares of the company’s stock worth $1,308,000 after acquiring an additional 2,849 shares in the last quarter. Johnson Investment Counsel Inc. lifted its holdings in Kraft Heinz by 1.6% in the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company’s stock valued at $779,000 after acquiring an additional 397 shares during the last quarter. Finally, Steel Grove Capital Advisors LLC boosted its position in shares of Kraft Heinz by 520.8% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 58,713 shares of the company’s stock valued at $1,787,000 after purchasing an additional 49,256 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KHC has been the subject of several recent research reports. Mizuho set a $29.00 target price on shares of Kraft Heinz and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Stifel Nicolaus dropped their price target on Kraft Heinz from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. Cfra Research lowered Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Sanford C. Bernstein lowered Kraft Heinz from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Finally, Wall Street Zen upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Four research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $30.35.

Kraft Heinz Stock Performance

KHC stock opened at $25.68 on Friday. The firm has a 50 day simple moving average of $27.73 and a 200 day simple moving average of $29.25. Kraft Heinz Company has a 52 week low of $25.53 and a 52 week high of $36.53. The stock has a market cap of $30.39 billion, a P/E ratio of 11.73, a P/E/G ratio of 3.00 and a beta of 0.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the business posted $0.69 EPS. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. Research analysts anticipate 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 will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s payout ratio is currently 73.06%.

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.