Silvercrest Asset Management Group LLC Reduces Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Silvercrest Asset Management Group LLC cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 18.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,715 shares of the company’s stock after selling 4,500 shares during the quarter. Silvercrest Asset Management Group LLC’s holdings in Kraft Heinz were worth $605,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the stock. New York Life Investment Management LLC boosted its holdings in Kraft Heinz by 0.3% during the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock valued at $3,995,000 after acquiring an additional 361 shares during the period. Checchi Capital Advisers LLC boosted its holdings in Kraft Heinz by 5.3% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock valued at $223,000 after acquiring an additional 366 shares during the period. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Kraft Heinz by 1.0% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company’s stock worth $1,097,000 after buying an additional 370 shares during the period. Laird Norton Wetherby Wealth Management LLC lifted its holdings in Kraft Heinz by 4.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company’s stock worth $307,000 after buying an additional 386 shares during the period. Finally, Rehmann Capital Advisory Group lifted its holdings in Kraft Heinz by 3.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company’s stock worth $427,000 after buying an additional 408 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Trading Up 0.1%

KHC opened at $27.90 on Wednesday. The stock has a market cap of $33.02 billion, a PE ratio of 12.35, a PEG ratio of 3.39 and a beta of 0.30. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The business has a 50 day moving average of $29.13 and a 200-day moving average of $30.09. The Kraft Heinz Company has a 52 week low of $27.14 and a 52 week high of $36.53.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. Equities research analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed 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. This represents a $1.60 dividend on an annualized basis and a yield of 5.73%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 73.06%.

Analysts Set New Price Targets

Several research firms have weighed in on KHC. DZ Bank cut Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a report on Friday, May 9th. The Goldman Sachs Group dropped their price objective on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. StockNews.com upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Wednesday, March 12th. Wells Fargo & Company dropped their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday, February 13th. Finally, Jefferies Financial Group dropped their price objective on Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Four analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.65.

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.