Envestnet Asset Management Inc. Has $13.38 Million Position in Kraft Heinz Co (KHC)
Envestnet Asset Management Inc. cut its position in Kraft Heinz Co (NASDAQ:KHC) by 22.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,574 shares of the company’s stock after selling 49,036 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Kraft Heinz were worth $13,379,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in KHC. Blue Chip Partners Inc. boosted its position in Kraft Heinz by 0.5% during the second quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock worth $127,000 after purchasing an additional 8 shares during the period. Martingale Asset Management L P boosted its position in Kraft Heinz by 0.5% during the second quarter. Martingale Asset Management L P now owns 2,724 shares of the company’s stock worth $234,000 after purchasing an additional 13 shares during the period. Guardian Life Insurance Co. of America boosted its position in Kraft Heinz by 0.7% during the first quarter. Guardian Life Insurance Co. of America now owns 2,301 shares of the company’s stock worth $209,000 after purchasing an additional 16 shares during the period. Ropes Wealth Advisors LLC boosted its position in Kraft Heinz by 0.4% during the second quarter. Ropes Wealth Advisors LLC now owns 3,841 shares of the company’s stock worth $329,000 after purchasing an additional 17 shares during the period. Finally, National Asset Management Inc. boosted its position in Kraft Heinz by 0.5% during the first quarter. National Asset Management Inc. now owns 4,477 shares of the company’s stock worth $408,000 after purchasing an additional 21 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have commented on KHC shares. BMO Capital Markets reduced their price objective on shares of Kraft Heinz from $96.00 to $82.00 and set a “market perform” rating for the company in a research report on Thursday, November 2nd. BidaskClub raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Citigroup reduced their target price on shares of Kraft Heinz from $90.00 to $82.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Piper Jaffray Companies raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and reduced their target price for the company from $92.00 to $90.00 in a research report on Friday, October 6th. Finally, Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $92.49.
Kraft Heinz Co (NASDAQ KHC) opened at $79.54 on Friday. The company has a market capitalization of $96,234.61, a PE ratio of 22.18, a P/E/G ratio of 2.19 and a beta of 0.45. Kraft Heinz Co has a 52 week low of $75.21 and a 52 week high of $97.77. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.77 and a quick ratio of 0.43.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.33 billion. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. Kraft Heinz’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.83 earnings per share. equities analysts expect that Kraft Heinz Co will post 3.61 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Friday, November 17th were paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, November 16th. Kraft Heinz’s dividend payout ratio (DPR) is presently 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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