AGF Management Ltd. Reduces Position in Kraft Heinz Company $KHC

AGF Management Ltd. trimmed its position in Kraft Heinz Company (NASDAQ:KHC) by 3.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 113,518 shares of the company’s stock after selling 3,853 shares during the quarter. AGF Management Ltd.’s holdings in Kraft Heinz were worth $2,931,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV grew its holdings in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock worth $35,000 after acquiring an additional 669 shares during the last quarter. Mid American Wealth Advisory Group Inc. bought a new position in shares of Kraft Heinz during the second quarter valued at about $39,000. Banque Transatlantique SA purchased a new stake in shares of Kraft Heinz during the first quarter worth about $40,000. Hilltop National Bank purchased a new stake in shares of Kraft Heinz during the second quarter worth about $41,000. Finally, Larson Financial Group LLC grew its stake in shares of Kraft Heinz by 52.6% in the first quarter. Larson Financial Group LLC now owns 1,558 shares of the company’s stock worth $47,000 after purchasing an additional 537 shares during 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 a number of recent analyst reports. Evercore ISI lowered their price target on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating for the company in a research report on Thursday, October 30th. Stifel Nicolaus reduced their target price on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. HSBC dropped their price target on Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. Hsbc Global Res upgraded shares of Kraft Heinz to a “hold” rating in a report on Friday, August 1st. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Reduce” and an average price target of $26.58.

Kraft Heinz Price Performance

Shares of KHC opened at $24.38 on Tuesday. Kraft Heinz Company has a fifty-two week low of $23.70 and a fifty-two week high of $33.35. The firm’s 50-day simple moving average is $25.63 and its two-hundred day simple moving average is $26.71. The stock has a market cap of $28.86 billion, a PE ratio of -6.54, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The firm had revenue of $6.39 billion during the quarter. Analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s payout ratio is -42.90%.

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.