White Pine Capital LLC Reduces Holdings in The Kraft Heinz Company (NASDAQ:KHC)

White Pine Capital LLC trimmed its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,579 shares of the company’s stock after selling 1,184 shares during the period. White Pine Capital LLC’s holdings in Kraft Heinz were worth $1,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KHC. Caprock Group LLC grew its position in shares of Kraft Heinz by 4.0% in the 3rd quarter. Caprock Group LLC now owns 12,286 shares of the company’s stock valued at $413,000 after buying an additional 472 shares during the last quarter. Koshinski Asset Management Inc. grew its position in shares of Kraft Heinz by 10.2% in the 3rd quarter. Koshinski Asset Management Inc. now owns 8,237 shares of the company’s stock valued at $277,000 after buying an additional 765 shares during the last quarter. CX Institutional acquired a new stake in Kraft Heinz during the 3rd quarter worth $305,000. Czech National Bank boosted its stake in Kraft Heinz by 47.8% during the 3rd quarter. Czech National Bank now owns 139,543 shares of the company’s stock worth $4,694,000 after purchasing an additional 45,111 shares during the period. Finally, Asset Management One Co. Ltd. boosted its stake in Kraft Heinz by 0.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 579,597 shares of the company’s stock worth $19,498,000 after purchasing an additional 5,376 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Shares of NASDAQ KHC traded down $0.21 during midday trading on Friday, hitting $38.16. The company had a trading volume of 5,342,375 shares, compared to its average volume of 6,515,615. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $41.47. The business has a 50-day simple moving average of $36.20 and a two-hundred day simple moving average of $35.56. The firm has a market capitalization of $46.39 billion, a price-to-earnings ratio of 16.52, a price-to-earnings-growth ratio of 3.03 and a beta of 0.67.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, beating 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 firm had revenue of $6.86 billion during the quarter, compared to analysts’ expectations of $6.99 billion. During the same quarter last year, the business earned $0.85 earnings per share. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. Equities research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.19%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is 69.26%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on KHC. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Bank of America increased their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company decreased 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 research note on Thursday, February 15th. Finally, Citigroup began 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. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.57.

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.