The Kraft Heinz Company (KHC) Stake Lowered by Schwartz Investment Counsel Inc.
Schwartz Investment Counsel Inc. trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 45.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,000 shares of the company’s stock after selling 90,000 shares during the period. Schwartz Investment Counsel Inc.’s holdings in The Kraft Heinz were worth $8,531,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in The Kraft Heinz by 1.2% in the 2nd quarter. Vanguard Group Inc. now owns 42,636,788 shares of the company’s stock valued at $3,651,416,000 after acquiring an additional 487,241 shares during the period. BlackRock Inc. increased its position in shares of The Kraft Heinz by 1.7% during the second quarter. BlackRock Inc. now owns 33,115,081 shares of the company’s stock valued at $2,835,974,000 after buying an additional 562,183 shares during the period. State Street Corp increased its position in shares of The Kraft Heinz by 2.8% during the first quarter. State Street Corp now owns 24,579,995 shares of the company’s stock valued at $2,232,113,000 after buying an additional 680,941 shares during the period. FMR LLC increased its position in shares of The Kraft Heinz by 30.0% during the second quarter. FMR LLC now owns 11,516,822 shares of the company’s stock valued at $986,301,000 after buying an additional 2,659,846 shares during the period. Finally, Morgan Stanley increased its position in shares of The Kraft Heinz by 55.6% during the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock valued at $759,605,000 after buying an additional 2,988,664 shares during the period. Institutional investors own 61.79% of the company’s stock.
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Shares of The Kraft Heinz Company (NASDAQ:KHC) opened at $79.82 on Friday. The stock has a market capitalization of $97,258.12, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 2.21 and a beta of 0.43. 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 Company has a 52 week low of $75.21 and a 52 week high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. The business had revenue of $6.31 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the prior 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 company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be paid a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Thursday, November 16th. The Kraft Heinz’s dividend payout ratio is currently 77.88%.
Several equities research analysts have recently weighed in on the company. Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $85.00 price target (down from $94.00) on shares of The Kraft Heinz in a research report on Wednesday, August 9th. TheStreet upgraded The Kraft Heinz from a “c” rating to a “b-” rating in a research report on Thursday, August 3rd. BidaskClub upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. Finally, Morgan Stanley cut their price objective on The Kraft Heinz from $92.00 to $88.00 and set an “overweight” rating for the company in a report on Friday, November 3rd. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $92.49.
About The Kraft Heinz
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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