Levin Capital Strategies L.P. Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

Levin Capital Strategies L.P. cut its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 48,542 shares of the company’s stock after selling 2,894 shares during the quarter. Levin Capital Strategies L.P.’s holdings in Kraft Heinz were worth $1,795,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in KHC. OFI Invest Asset Management bought a new stake in shares of Kraft Heinz during the third quarter valued at approximately $26,000. Turtle Creek Wealth Advisors LLC purchased a new position in Kraft Heinz in the fourth quarter worth about $32,000. BKM Wealth Management LLC purchased a new stake in Kraft Heinz during the fourth quarter valued at approximately $33,000. Headinvest LLC bought a new position in Kraft Heinz in the 3rd quarter worth $38,000. Finally, VisionPoint Advisory Group LLC grew its stake in shares of Kraft Heinz by 326.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock valued at $41,000 after acquiring an additional 936 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 1.4 %

KHC stock traded up $0.49 on Thursday, hitting $36.77. 7,613,316 shares of the company’s stock were exchanged, compared to its average volume of 8,109,753. The firm has a 50 day moving average price of $36.34 and a two-hundred day moving average price of $35.74. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $41.47. The stock has a market cap of $44.70 billion, a P/E ratio of 15.78, a price-to-earnings-growth ratio of 3.07 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. Kraft Heinz’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business earned $0.68 EPS. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.35%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America increased their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. 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, April 18th. Citigroup initiated coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They set a “buy” rating and a $43.00 price target for the company. Finally, Wells Fargo & Company reduced their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kraft Heinz presently has an average 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.