Summit Global Investments Sells 5,968 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Summit Global Investments reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 22.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,338 shares of the company’s stock after selling 5,968 shares during the quarter. Summit Global Investments’ holdings in Kraft Heinz were worth $752,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in KHC. FSC Wealth Advisors LLC lifted its holdings in shares of Kraft Heinz by 23.4% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock valued at $53,000 after purchasing an additional 270 shares in the last quarter. Archer Investment Corp boosted its position in Kraft Heinz by 2.0% during the 4th quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock worth $544,000 after acquiring an additional 294 shares during the last quarter. Ingalls & Snyder LLC grew its stake in shares of Kraft Heinz by 3.1% during the 4th quarter. Ingalls & Snyder LLC now owns 10,005 shares of the company’s stock worth $370,000 after acquiring an additional 300 shares in the last quarter. Econ Financial Services Corp raised its holdings in shares of Kraft Heinz by 0.6% in the third quarter. Econ Financial Services Corp now owns 53,310 shares of the company’s stock valued at $1,793,000 after purchasing an additional 310 shares during the last quarter. Finally, Kennedy Investment Group boosted its holdings in Kraft Heinz by 1.1% during the fourth quarter. Kennedy Investment Group now owns 29,199 shares of the company’s stock worth $1,080,000 after purchasing an additional 319 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $36.35 on Friday. The company has a market cap of $44.14 billion, a P/E ratio of 15.87, a P/E/G ratio of 2.89 and a beta of 0.65. The firm’s fifty day moving average price is $36.35 and its two-hundred day moving average price is $35.75. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $41.44. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.54.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. Kraft Heinz’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.68 EPS. Equities analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company 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 dividend of $0.40 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.60 annualized dividend and a yield of 4.40%. Kraft Heinz’s payout ratio is currently 69.87%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Bank of America boosted their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Wells Fargo & Company dropped their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 15th. Finally, Citigroup started coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They issued a “buy” rating and a $43.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $39.50.

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.