The Kraft Heinz Company (KHC) Shares Sold by Inverness Counsel LLC NY
Inverness Counsel LLC NY trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 18.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,665 shares of the company’s stock after selling 81,894 shares during the quarter. The Kraft Heinz comprises approximately 2.0% of Inverness Counsel LLC NY’s investment portfolio, making the stock its 17th biggest position. Inverness Counsel LLC NY’s holdings in The Kraft Heinz were worth $27,659,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the business. Blue Chip Partners Inc. boosted its position in The 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 The 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 The 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 The 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 The 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. 61.59% of the stock is owned by hedge funds and other institutional investors.
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The Kraft Heinz Company (KHC) opened at $79.63 on Friday. The company has a market capitalization of $97,026.60, a PE ratio of 22.37, a P/E/G ratio of 2.20 and a beta of 0.43. The Kraft Heinz Company 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.
The 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. The Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The 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 The Kraft Heinz Company will post 3.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, November 17th will be 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 is Thursday, November 16th. The Kraft Heinz’s dividend payout ratio (DPR) is presently 77.88%.
KHC has been the subject of a number of research analyst reports. UBS AG reaffirmed a “buy” rating and set a $89.00 price objective (down from $97.00) on shares of The Kraft Heinz in a research report on Friday, October 13th. Credit Suisse Group set a $100.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a report on Sunday, September 10th. BidaskClub raised The Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Piper Jaffray Companies raised The Kraft Heinz from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $92.00 to $90.00 in a report on Friday, October 6th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $95.00 target price on shares of The Kraft Heinz in a report on Tuesday, October 3rd. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The Kraft Heinz has a consensus rating of “Buy” and a consensus target price of $92.49.
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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