ProVise Management Group LLC Sells 693 Shares of The Kraft Heinz Company (KHC)
ProVise Management Group LLC lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 4.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,482 shares of the company’s stock after selling 693 shares during the quarter. ProVise Management Group LLC’s holdings in The Kraft Heinz were worth $1,412,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. V Wealth Management LLC acquired a new stake in The Kraft Heinz during the 2nd quarter valued at approximately $125,000. Blue Chip Partners Inc. grew its stake in The Kraft Heinz by 0.5% during the 1st quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock valued at $134,000 after purchasing an additional 8 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in The Kraft Heinz during the 1st quarter valued at approximately $136,000. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in The Kraft Heinz by 7.0% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,527 shares of the company’s stock valued at $139,000 after purchasing an additional 100 shares in the last quarter. Finally, Reilly Financial Advisors LLC grew its stake in The Kraft Heinz by 9.0% during the 2nd quarter. Reilly Financial Advisors LLC now owns 1,631 shares of the company’s stock valued at $140,000 after purchasing an additional 134 shares in the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.
A number of brokerages have weighed in on KHC. Goldman Sachs Group, Inc. (The) lowered The Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $95.00 to $87.00 in a research note on Wednesday. Royal Bank Of Canada restated a “buy” rating and set a $95.00 price objective on shares of The Kraft Heinz in a research note on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $95.00 price objective on shares of The Kraft Heinz in a research note on Thursday, September 21st. Susquehanna Bancshares Inc restated a “hold” rating and set a $84.00 price objective on shares of The Kraft Heinz in a research note on Thursday, September 14th. Finally, Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $96.53.
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The Kraft Heinz Company (NASDAQ KHC) opened at 78.25 on Friday. The company has a market cap of $95.33 billion, a P/E ratio of 25.08 and a beta of 0.44. The Kraft Heinz Company has a 12-month low of $76.76 and a 12-month high of $97.77. The firm’s 50-day moving average price is $79.50 and its 200-day moving average price is $79.50.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The firm had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same period in the previous year, the company posted $0.85 earnings per share. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. Analysts expect that The Kraft Heinz Company will post $3.24 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were paid a $0.625 dividend. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Wednesday, August 16th. The Kraft Heinz’s dividend payout ratio is currently 79.87%.
The Kraft Heinz 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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