Cypress Capital Management LLC Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)

Cypress Capital Management LLC lessened its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 16.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 292,771 shares of the company’s stock after selling 58,990 shares during the quarter. The Kraft Heinz comprises about 1.6% of Cypress Capital Management LLC’s investment portfolio, making the stock its 17th biggest holding. Cypress Capital Management LLC’s holdings in The Kraft Heinz were worth $11,711,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Amundi Pioneer Asset Management Inc. lifted its stake in shares of The Kraft Heinz by 22.8% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 654,151 shares of the company’s stock valued at $21,358,000 after purchasing an additional 121,281 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of The Kraft Heinz by 6.3% in the 4th quarter. Victory Capital Management Inc. now owns 680,230 shares of the company’s stock valued at $23,577,000 after purchasing an additional 40,216 shares during the last quarter. California Public Employees Retirement System lifted its stake in shares of The Kraft Heinz by 4.0% in the 4th quarter. California Public Employees Retirement System now owns 1,557,042 shares of the company’s stock valued at $53,967,000 after purchasing an additional 59,885 shares during the last quarter. MUFG Americas Holdings Corp bought a new stake in shares of The Kraft Heinz in the 4th quarter valued at approximately $167,000. Finally, Parsec Financial Management Inc. bought a new stake in shares of The Kraft Heinz in the 4th quarter valued at approximately $214,000. Institutional investors and hedge funds own 60.92% of the company’s stock.

In related news, insider Bruno Keller sold 19,725 shares of the business’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $43.53, for a total transaction of $858,629.25. Following the transaction, the insider now directly owns 162,131 shares in the company, valued at approximately $7,057,562.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John T. Cahill sold 209,488 shares of the business’s stock in a transaction on Tuesday, May 4th. The stock was sold at an average price of $42.28, for a total value of $8,857,152.64. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

NASDAQ KHC traded up $0.37 on Friday, reaching $43.32. 174,541 shares of the stock traded hands, compared to its average volume of 6,612,775. The Kraft Heinz Company has a 12 month low of $28.56 and a 12 month high of $44.95. The stock’s fifty day simple moving average is $42.35. The company has a market cap of $52.99 billion, a P/E ratio of 97.62, a price-to-earnings-growth ratio of 3.30 and a beta of 1.12. The company has a current ratio of 1.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.54.

The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, April 29th. The company reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.12. The Kraft Heinz had a return on equity of 7.43% and a net margin of 2.05%. Equities analysts anticipate that The Kraft Heinz Company will post 2.66 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 25th. Stockholders of record on Friday, May 28th will be issued a $0.40 dividend. The ex-dividend date is Thursday, May 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.69%. The Kraft Heinz’s dividend payout ratio is presently 55.56%.

A number of brokerages recently issued reports on KHC. JPMorgan Chase & Co. reissued a “hold” rating and set a $41.00 price target on shares of The Kraft Heinz in a research note on Sunday, March 14th. Morgan Stanley raised their price target on The Kraft Heinz from $38.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Friday, April 30th. Stifel Nicolaus raised their price target on The Kraft Heinz from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Friday, February 12th. Deutsche Bank Aktiengesellschaft raised their price target on The Kraft Heinz from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, April 21st. Finally, DZ Bank reissued a “hold” rating and set a $44.00 price target on shares of The Kraft Heinz in a research note on Tuesday, May 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $38.46.

The Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy, meals, meats and seafood, frozen and chilled foods, packaged drinking pouches, appetizers, nuts and salted snacks, refreshment beverages, coffee, infant and nutrition products, and other grocery products, as well as desserts, dressings, toppings, and baking.

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Institutional Ownership by Quarter for The Kraft Heinz (NASDAQ:KHC)

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