Kornitzer Capital Management Inc. KS Has $10.99 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Kornitzer Capital Management Inc. KS lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 12.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 297,197 shares of the company’s stock after selling 43,610 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Kraft Heinz were worth $10,990,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in KHC. Ancora Advisors LLC boosted its position in Kraft Heinz by 69.9% in the 1st quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after buying an additional 272 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at about $27,000. OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at about $26,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $35,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Up 1.8 %

Kraft Heinz stock traded up $0.67 during trading hours on Friday, reaching $37.78. The stock had a trading volume of 9,117,769 shares, compared to its average volume of 6,747,855. The stock has a market cap of $45.93 billion, a PE ratio of 16.35, a PEG ratio of 2.93 and a beta of 0.67. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $41.47. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.54. The company has a fifty day simple moving average of $35.91 and a 200-day simple moving average of $35.37.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. Kraft Heinz’s quarterly revenue was down 7.1% on a year-over-year basis. Analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a $0.40 dividend. The ex-dividend date was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.24%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.26%.

Analysts Set New Price Targets

A number of research firms recently commented on KHC. Wells Fargo & Company reduced their price target on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Bank of America lifted their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Citigroup assumed coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.57.

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.