Eaton Vance Management reduced its stake in Kraft Heinz Co (NASDAQ:KHC) by 59.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,322 shares of the company’s stock after selling 111,944 shares during the period. Eaton Vance Management’s holdings in Kraft Heinz were worth $4,151,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently modified their holdings of the stock. Integrated Investment Consultants LLC raised its position in Kraft Heinz by 133.5% during the second quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after purchasing an additional 965 shares in the last quarter. Stevens First Principles Investment Advisors acquired a new position in Kraft Heinz during the second quarter valued at approximately $108,000. Mainstay Capital Management LLC ADV raised its position in Kraft Heinz by 5,429.3% during the second quarter. Mainstay Capital Management LLC ADV now owns 6,414 shares of the company’s stock valued at $108,000 after purchasing an additional 6,298 shares in the last quarter. Blume Capital Management Inc. raised its position in Kraft Heinz by 166.7% during the third quarter. Blume Capital Management Inc. now owns 2,080 shares of the company’s stock valued at $115,000 after purchasing an additional 1,300 shares in the last quarter. Finally, CSat Investment Advisory L.P. acquired a new position in Kraft Heinz during the second quarter valued at approximately $120,000. Institutional investors and hedge funds own 62.63% of the company’s stock.
Several brokerages have commented on KHC. Zacks Investment Research downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. BidaskClub upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BMO Capital Markets lowered their price objective on shares of Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 5th. Susquehanna Bancshares restated a “negative” rating and set a $47.00 price objective (down from $59.00) on shares of Kraft Heinz in a research report on Friday, November 2nd. Finally, UBS Group set a $65.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Friday, November 2nd. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $66.89.
Shares of NASDAQ:KHC opened at $48.71 on Friday. The firm has a market cap of $60.95 billion, a PE ratio of 13.72, a P/E/G ratio of 2.23 and a beta of 0.45. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.57. Kraft Heinz Co has a 52-week low of $48.51 and a 52-week high of $80.67.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.31 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.83 earnings per share. On average, sell-side analysts anticipate that Kraft Heinz Co will post 3.64 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 16th will be issued a dividend of $0.625 per share. The ex-dividend date is Thursday, November 15th. This represents a $2.50 annualized dividend and a dividend yield of 5.13%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.
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Kraft Heinz Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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