Cutter & CO Brokerage Inc. Lowers Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Cutter & CO Brokerage Inc. cut its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 32.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,328 shares of the company’s stock after selling 4,978 shares during the quarter. Cutter & CO Brokerage Inc.’s holdings in Kraft Heinz were worth $317,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in KHC. Fortitude Family Office LLC lifted its holdings in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz during the third quarter valued at $27,000. Sawyer & Company Inc purchased a new position in Kraft Heinz during the fourth quarter valued at $25,000. Capital Performance Advisors LLP purchased a new position in Kraft Heinz during the third quarter valued at $33,000. Finally, Larson Financial Group LLC lifted its holdings in Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after purchasing an additional 636 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Shares of KHC stock opened at $31.73 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The firm’s 50-day moving average is $29.75 and its two-hundred day moving average is $32.47. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96. The company has a market capitalization of $37.92 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 3.39 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

Analysts Set New Price Targets

Several research firms have issued reports on KHC. Evercore ISI reaffirmed an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Barclays decreased their price objective on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Wells Fargo & Company reduced their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. Finally, Jefferies Financial Group decreased their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Three analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.86.

Kraft Heinz 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.