Inverness Counsel LLC NY cut its stake in Kraft Heinz Co (NASDAQ:KHC) by 18.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 356,665 shares of the company’s stock after selling 81,894 shares during the quarter. Kraft Heinz comprises approximately 2.0% of Inverness Counsel LLC NY’s investment portfolio, making the stock its 17th biggest position. Inverness Counsel LLC NY’s holdings in Kraft Heinz were worth $27,659,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Kraft Heinz by 1.2% during the 2nd quarter. Vanguard Group Inc. now owns 42,636,788 shares of the company’s stock worth $3,651,416,000 after purchasing an additional 487,241 shares during the last quarter. BlackRock Inc. increased its position in shares of Kraft Heinz by 1.7% during the 2nd quarter. BlackRock Inc. now owns 33,115,081 shares of the company’s stock worth $2,835,974,000 after purchasing an additional 562,183 shares during the last quarter. State Street Corp increased its position in shares of Kraft Heinz by 2.8% during the 1st quarter. State Street Corp now owns 24,579,995 shares of the company’s stock worth $2,232,113,000 after purchasing an additional 680,941 shares during the last quarter. FMR LLC increased its position in shares of Kraft Heinz by 30.0% during the 2nd quarter. FMR LLC now owns 11,516,822 shares of the company’s stock worth $986,301,000 after purchasing an additional 2,659,846 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Kraft Heinz by 55.6% during the 1st quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock worth $759,605,000 after purchasing an additional 2,988,664 shares during the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on KHC. Berenberg Bank set a $102.00 price objective on Kraft Heinz and gave the stock a “buy” rating in a research report on Monday, August 7th. Susquehanna Bancshares restated a “neutral” rating and set a $85.00 target price (down from $94.00) on shares of Kraft Heinz in a report on Wednesday, August 9th. Zacks Investment Research cut Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Royal Bank Of Canada restated a “buy” rating and set a $95.00 target price on shares of Kraft Heinz in a report on Tuesday, October 3rd. Finally, Piper Jaffray Companies set a $92.00 target price on Kraft Heinz and gave the company a “hold” rating in a report on Wednesday, August 16th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $92.49.
Shares of Kraft Heinz Co (NASDAQ:KHC) traded up $0.71 on Monday, hitting $81.92. The stock had a trading volume of 2,908,055 shares, compared to its average volume of 3,101,857. The company has a quick ratio of 0.43, a current ratio of 0.77 and a debt-to-equity ratio of 0.48. The stock has a market cap of $99,800.00 and a PE ratio of 22.81. Kraft Heinz Co has a fifty-two week low of $75.21 and a fifty-two week high of $97.77.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. The business had revenue of $6.31 billion during the quarter, compared to analysts’ expectations of $6.33 billion. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same quarter last year, the business posted $0.83 EPS. research analysts forecast that Kraft Heinz Co will post 3.61 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be paid a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.05%. The ex-dividend date is Thursday, November 16th. Kraft Heinz’s payout ratio is 77.88%.
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Kraft Heinz Company Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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