Princeton Global Asset Management LLC Lowers Position in The Kraft Heinz Company (NASDAQ:KHC)

Princeton Global Asset Management LLC lowered its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 38.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,073 shares of the company’s stock after selling 677 shares during the period. Princeton Global Asset Management LLC’s holdings in Kraft Heinz were worth $33,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Generali Investments Management Co LLC purchased a new position in shares of Kraft Heinz during the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Kraft Heinz in the 4th quarter worth approximately $29,000. OFI Invest Asset Management purchased a new position in Kraft Heinz in the 4th quarter worth approximately $36,000. Pinney & Scofield Inc. purchased a new position in Kraft Heinz in the 4th quarter worth approximately $38,000. Finally, Kennondale Capital Management LLC purchased a new position in Kraft Heinz in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 0.4%

Shares of NASDAQ:KHC opened at $26.73 on Friday. The stock has a fifty day simple moving average of $28.26 and a two-hundred day simple moving average of $29.59. The stock has a market capitalization of $31.64 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 3.39 and a beta of 0.27. The Kraft Heinz Company has a 12-month low of $26.01 and a 12-month high of $36.53. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data 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. The business had revenue of $6 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 earnings per share. On average, research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Friday, May 30th. Kraft Heinz’s dividend payout ratio is currently 73.06%.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of recent analyst reports. DZ Bank lowered Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research report on Friday, May 9th. Wells Fargo & Company cut their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Morgan Stanley initiated coverage on Kraft Heinz in a research report on Monday, March 24th. They issued an “underweight” rating and a $29.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Sanford C. Bernstein lowered Kraft Heinz from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Four analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $30.53.

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.