Foundation Resource Management Inc. Cuts Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Foundation Resource Management Inc. trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.8% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 312,475 shares of the company’s stock after selling 5,859 shares during the quarter. Kraft Heinz accounts for approximately 1.5% of Foundation Resource Management Inc.’s holdings, making the stock its 23rd biggest holding. Foundation Resource Management Inc.’s holdings in Kraft Heinz were worth $9,509,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KHC. Sumitomo Mitsui Trust Group Inc. increased its holdings in Kraft Heinz by 1.9% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,688,249 shares of the company’s stock valued at $82,556,000 after buying an additional 49,827 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Kraft Heinz by 1.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 115,107 shares of the company’s stock valued at $3,535,000 after buying an additional 1,817 shares during the period. Cidel Asset Management Inc. increased its holdings in Kraft Heinz by 12.0% during the fourth quarter. Cidel Asset Management Inc. now owns 7,858 shares of the company’s stock valued at $241,000 after buying an additional 845 shares during the period. Apollon Wealth Management LLC increased its holdings in Kraft Heinz by 4.9% during the fourth quarter. Apollon Wealth Management LLC now owns 21,883 shares of the company’s stock valued at $672,000 after buying an additional 1,026 shares during the period. Finally, Empowered Funds LLC boosted its stake in Kraft Heinz by 22.9% in the fourth quarter. Empowered Funds LLC now owns 102,377 shares of the company’s stock valued at $3,144,000 after acquiring an additional 19,056 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KHC has been the subject of several recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research note on Thursday, February 13th. 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. Cfra Research downgraded shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Finally, Bank of America downgraded shares of Kraft Heinz from a “buy” rating to an “underperform” rating and lowered their price objective for the stock from $36.00 to $30.00 in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.53.

Kraft Heinz Trading Up 0.4%

NASDAQ KHC opened at $26.73 on Monday. The company has a market capitalization of $31.64 billion, a PE ratio of 11.83, a P/E/G ratio of 3.39 and a beta of 0.27. The company has a fifty day moving average of $28.26 and a 200 day moving average of $29.58. The Kraft Heinz Company has a 1 year low of $26.01 and a 1 year high of $36.53. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC) last posted 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. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.69 earnings per share. Research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 5.99%. Kraft Heinz’s dividend payout ratio is presently 73.06%.

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.