Evercore Wealth Management LLC trimmed its position in Kraft Heinz Co (NASDAQ:KHC) by 19.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,194 shares of the company’s stock after selling 5,181 shares during the period. Evercore Wealth Management LLC’s holdings in Kraft Heinz were worth $1,168,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Integrated Investment Consultants LLC boosted its holdings in Kraft Heinz by 133.5% in the second quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after acquiring an additional 965 shares during the last quarter. Sigma Planning Corp boosted its holdings in Kraft Heinz by 16.4% in the second quarter. Sigma Planning Corp now owns 8,750 shares of the company’s stock valued at $550,000 after acquiring an additional 1,230 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in Kraft Heinz in the second quarter valued at about $3,929,000. Sei Investments Co. boosted its holdings in Kraft Heinz by 29.3% in the second quarter. Sei Investments Co. now owns 66,919 shares of the company’s stock valued at $4,204,000 after acquiring an additional 15,184 shares during the last quarter. Finally, Wedbush Securities Inc. boosted its holdings in Kraft Heinz by 8.9% in the second quarter. Wedbush Securities Inc. now owns 14,276 shares of the company’s stock valued at $897,000 after acquiring an additional 1,161 shares during the last quarter. Institutional investors own 62.63% of the company’s stock.
KHC opened at $48.71 on Friday. The firm has a market capitalization of $60.39 billion, a P/E ratio of 13.87, a PEG ratio of 2.21 and a beta of 0.45. Kraft Heinz Co has a 1 year low of $48.51 and a 1 year high of $80.67. The company has a quick ratio of 0.57, a current ratio of 1.00 and a debt-to-equity ratio of 0.47.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, November 1st. The company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.03). The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.31 billion. Kraft Heinz had a net margin of 39.56% and a return on equity of 6.62%. Kraft Heinz’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. On average, research analysts expect that Kraft Heinz Co will post 3.64 EPS for the current fiscal year.
The firm 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 of this dividend is Thursday, November 15th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 5.13%. Kraft Heinz’s dividend payout ratio (DPR) is currently 70.42%.
Several equities analysts recently issued reports on KHC shares. BidaskClub cut Kraft Heinz from a “hold” rating to a “sell” rating in a report on Friday, September 21st. Royal Bank of Canada decreased their price target on Kraft Heinz to $68.00 and set an “outperform” rating on the stock in a report on Friday, November 2nd. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Monday, August 27th. ValuEngine upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Friday, October 19th. Finally, Berenberg Bank set a $64.00 price target on Kraft Heinz and gave the company a “buy” rating in a report on Tuesday, November 20th. Six analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $66.89.
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Kraft Heinz Company 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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