AGF Management Ltd. Has $2.96 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

AGF Management Ltd. reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,531 shares of the company’s stock after selling 7,091 shares during the quarter. AGF Management Ltd.’s holdings in Kraft Heinz were worth $2,964,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in KHC. Sawyer & Company Inc acquired a new stake in Kraft Heinz during the 4th quarter worth $25,000. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz during the 3rd quarter worth approximately $27,000. Larson Financial Group LLC raised its holdings in shares of Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after acquiring an additional 636 shares during the period. R Squared Ltd bought a new stake in shares of Kraft Heinz in the fourth quarter valued at about $34,000. Finally, OFI Invest Asset Management bought a new stake in Kraft Heinz in the 4th quarter valued at approximately $36,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KHC has been the topic of several analyst reports. UBS Group cut their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Evercore ISI reaffirmed an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Bank of America downgraded Kraft Heinz from a “buy” rating to an “underperform” rating and decreased their target price for the company from $36.00 to $30.00 in a research report on Thursday, February 13th. The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a research note on Thursday, February 13th. Finally, TD Cowen lowered their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Price Performance

KHC stock opened at $30.30 on Thursday. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96. The stock has a market cap of $36.21 billion, a price-to-earnings ratio of 13.41, a P/E/G ratio of 3.39 and a beta of 0.40. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The company has a 50 day simple moving average of $29.88 and a 200 day simple moving average of $32.20.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Research analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.28%. Kraft Heinz’s dividend payout ratio (DPR) is currently 70.80%.

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.