Mackenzie Financial Corp Has $29.47 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Mackenzie Financial Corp trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 24.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 797,020 shares of the company’s stock after selling 251,104 shares during the period. Mackenzie Financial Corp owned 0.06% of Kraft Heinz worth $29,474,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Ancora Advisors LLC increased its stake in Kraft Heinz by 69.9% in the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after purchasing an additional 272 shares in the last quarter. Riverview Trust Co bought a new stake in Kraft Heinz in the third quarter valued at approximately $27,000. OFI Invest Asset Management bought a new stake in Kraft Heinz in the third quarter valued at approximately $26,000. Sanctuary Wealth Management L.L.C. bought a new stake in Kraft Heinz in the fourth quarter valued at approximately $35,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Kraft Heinz in the fourth quarter valued at approximately $32,000. 78.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

KHC has been the subject of several research analyst reports. Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Citigroup started coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 target price for the company. Finally, Bank of America increased their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus target price of $40.71.

Kraft Heinz Price Performance

Shares of KHC opened at $36.90 on Thursday. The firm has a market capitalization of $44.86 billion, a PE ratio of 15.97, a PEG ratio of 2.89 and a beta of 0.67. The company’s 50-day moving average is $35.86 and its 200-day moving average is $35.34. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two 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.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates 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 period last year, the firm earned $0.85 earnings per share. Kraft Heinz’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities analysts forecast that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend was Thursday, March 7th. Kraft Heinz’s dividend payout ratio is 69.26%.

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.