Kornitzer Capital Management Inc. KS Has $10.23 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Kornitzer Capital Management Inc. KS reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 291,335 shares of the company’s stock after selling 1,412 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Kraft Heinz were worth $10,229,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Clifford Capital Partners LLC boosted its position in shares of Kraft Heinz by 21.4% during the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after buying an additional 80,101 shares during the period. Lazard Asset Management LLC boosted its position in shares of Kraft Heinz by 13.2% during the first quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after buying an additional 234,783 shares during the period. Smith Thornton Advisors LLC bought a new stake in Kraft Heinz during the second quarter worth about $654,000. MBB Public Markets I LLC bought a new stake in Kraft Heinz during the second quarter worth about $2,001,000. Finally, Sei Investments Co. raised its holdings in Kraft Heinz by 12.8% during the second quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock worth $24,495,000 after acquiring an additional 86,311 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KHC shares. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Citigroup cut their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Piper Sandler cut their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Finally, Wells Fargo & Company raised their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.25.

Kraft Heinz Trading Down 1.8 %

KHC opened at $32.82 on Friday. The Kraft Heinz Company has a twelve month low of $31.58 and a twelve month high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a fifty day moving average of $35.01 and a 200-day moving average of $34.74. The stock has a market cap of $39.69 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 3.81 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, sell-side analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is currently 144.14%.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.37% of the stock is currently owned by corporate insiders.

Kraft Heinz Company 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.