Eaton Vance Management lowered its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 59.8% during the third quarter, Holdings Channel reports. The fund owned 75,322 shares of the company’s stock after selling 111,944 shares during the quarter. Eaton Vance Management’s holdings in Kraft Heinz were worth $4,151,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of KHC. Integrated Investment Consultants LLC increased its stake in Kraft Heinz by 133.5% during the second quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock worth $106,000 after purchasing an additional 965 shares during the period. Sigma Planning Corp increased its stake in Kraft Heinz by 16.4% during the second quarter. Sigma Planning Corp now owns 8,750 shares of the company’s stock worth $550,000 after purchasing an additional 1,230 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Kraft Heinz during the second quarter worth about $3,929,000. Sei Investments Co. increased its stake in Kraft Heinz by 29.3% during the second quarter. Sei Investments Co. now owns 66,919 shares of the company’s stock worth $4,204,000 after purchasing an additional 15,184 shares during the period. Finally, Wedbush Securities Inc. increased its stake in Kraft Heinz by 8.9% during the second quarter. Wedbush Securities Inc. now owns 14,276 shares of the company’s stock worth $897,000 after purchasing an additional 1,161 shares during the period. 62.63% of the stock is currently owned by institutional investors and hedge funds.

KHC stock opened at $48.71 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.57 and a current ratio of 1.00. Kraft Heinz Co has a fifty-two week low of $48.51 and a fifty-two week high of $80.67. The company has a market cap of $60.95 billion, a P/E ratio of 13.72, a PEG ratio of 2.23 and a beta of 0.45.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, November 1st. The company reported $0.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by ($0.03). Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Analysts anticipate that Kraft Heinz Co will post 3.64 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be paid 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 payout ratio is 70.42%.

A number of analysts have issued reports on KHC shares. BidaskClub lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Saturday, August 11th. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 27th. Morgan Stanley began coverage on shares of Kraft Heinz in a research note on Monday, September 17th. They set an “underweight” rating and a $52.00 price target on the stock. Credit Suisse Group upgraded shares of Kraft Heinz to a “hold” rating and set a $52.00 target price on the stock in a research note on Thursday, October 4th. Finally, ValuEngine upgraded shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Friday, October 19th. Six investment analysts have rated the stock with a sell rating, three have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $66.89.

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About Kraft Heinz

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

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