Envestnet Portfolio Solutions Inc. Sells 21,184 Shares of Kraft Heinz Company (NASDAQ:KHC)

Envestnet Portfolio Solutions Inc. lowered its stake in Kraft Heinz Company (NASDAQ:KHC) by 55.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,875 shares of the company’s stock after selling 21,184 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Kraft Heinz were worth $514,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of KHC. Generali Investments Management Co LLC bought a new position in Kraft Heinz in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new position in Kraft Heinz in the fourth quarter valued at about $29,000. OFI Invest Asset Management bought a new position in Kraft Heinz in the fourth quarter valued at about $36,000. Pinney & Scofield Inc. bought a new position in Kraft Heinz in the fourth quarter valued at about $38,000. Finally, Abound Wealth Management grew its position in Kraft Heinz by 1,157.0% in the first quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock valued at $38,000 after acquiring an additional 1,157 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Sanford C. Bernstein downgraded Kraft Heinz from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Morgan Stanley assumed coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 price objective for the company. Mizuho set a $29.00 price objective on Kraft Heinz and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Cfra Research downgraded Kraft Heinz from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus lowered their price objective on Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $30.47.

Kraft Heinz Stock Up 0.2%

NASDAQ:KHC opened at $25.79 on Friday. Kraft Heinz Company has a twelve month low of $25.53 and a twelve month high of $36.53. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 3.01 and a beta of 0.27. The stock has a fifty day simple moving average of $27.38 and a 200-day simple moving average of $29.07. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The firm had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the previous year, the company posted $0.69 earnings per share. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. Analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The company 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 $0.40 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 6.20%. Kraft Heinz’s dividend payout ratio is currently 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.