Wedbush Securities Inc. Has $725,000 Position in Kraft Heinz Co (KHC)
Wedbush Securities Inc. cut its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 7.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,147 shares of the company’s stock after selling 1,129 shares during the period. Wedbush Securities Inc.’s holdings in Kraft Heinz were worth $725,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Integrated Investment Consultants LLC grew its position in shares of 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 acquiring an additional 965 shares during the last quarter. D.A. Davidson & CO. grew its position in shares of Kraft Heinz by 18.8% during the second quarter. D.A. Davidson & CO. now owns 53,340 shares of the company’s stock worth $3,351,000 after acquiring an additional 8,443 shares during the last quarter. Sigma Planning Corp grew its position in shares of 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 acquiring an additional 1,230 shares during the last quarter. State of Wisconsin Investment Board grew its position in shares of Kraft Heinz by 19.8% during the second quarter. State of Wisconsin Investment Board now owns 669,014 shares of the company’s stock worth $42,027,000 after acquiring an additional 110,538 shares during the last quarter. Finally, Wrapmanager Inc. purchased a new position in shares of Kraft Heinz during the second quarter worth approximately $610,000. 62.63% of the stock is owned by institutional investors and hedge funds.
KHC has been the topic of a number of analyst reports. BidaskClub lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Friday, September 21st. Royal Bank of Canada lowered their price objective on shares of Kraft Heinz to $68.00 and set an “outperform” rating on the stock in a research report on Friday, November 2nd. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 27th. ValuEngine upgraded shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Friday, October 19th. Finally, Berenberg Bank set a $64.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Tuesday, November 20th. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Kraft Heinz presently has an average rating of “Hold” and a consensus target price of $66.89.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by ($0.03). The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.31 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the firm earned $0.83 EPS. On average, analysts expect that Kraft Heinz Co will post 3.64 EPS for the current fiscal 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 $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 5.06%. The ex-dividend date of this dividend is Thursday, November 15th. Kraft Heinz’s payout ratio is 70.42%.
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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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