M&T Bank Corp Sells 4,793 Shares of The Kraft Heinz Company (NASDAQ:KHC)

M&T Bank Corp lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 195,086 shares of the company’s stock after selling 4,793 shares during the period. M&T Bank Corp’s holdings in Kraft Heinz were worth $7,214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. OFI Invest Asset Management acquired a new position in Kraft Heinz in the 3rd quarter valued at $26,000. Turtle Creek Wealth Advisors LLC bought a new position in Kraft Heinz during the fourth quarter worth about $32,000. BKM Wealth Management LLC bought a new position in Kraft Heinz during the fourth quarter worth about $33,000. Headinvest LLC acquired a new stake in Kraft Heinz in the 3rd quarter worth about $38,000. Finally, VisionPoint Advisory Group LLC grew its position in shares of Kraft Heinz by 326.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock worth $41,000 after purchasing an additional 936 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

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

Kraft Heinz Stock Down 1.0 %

NASDAQ KHC opened at $36.35 on Monday. The business has a fifty day moving average price of $36.35 and a two-hundred day moving average price of $35.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $41.44. The stock has a market capitalization of $44.14 billion, a PE ratio of 15.87, a PEG ratio of 2.91 and a beta of 0.65.

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. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period in the prior year, the company earned $0.68 EPS. Kraft Heinz’s revenue was down 1.2% compared to the same quarter last year. Equities analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.40%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s payout ratio is 69.87%.

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.