Essex Financial Services Inc. reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,967 shares of the company’s stock after selling 525 shares during the period. Essex Financial Services Inc.’s holdings in The Kraft Heinz were worth $682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Blue Chip Partners Inc. grew its stake in shares of The Kraft Heinz by 0.5% during the first quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock worth $134,000 after buying an additional 8 shares during the last quarter. Guardian Life Insurance Co. of America grew its stake in shares of 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 buying an additional 16 shares during the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in shares of The Kraft Heinz by 0.6% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 3,369 shares of the company’s stock worth $306,000 after buying an additional 21 shares during the last quarter. National Asset Management Inc. grew its stake in shares of 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 buying an additional 21 shares during the last quarter. Finally, First Foundation Advisors grew its stake in shares of The Kraft Heinz by 0.5% during the first quarter. First Foundation Advisors now owns 5,121 shares of the company’s stock worth $465,000 after buying an additional 23 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “The Kraft Heinz Company (KHC) Shares Sold by Essex Financial Services Inc.” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.thecerbatgem.com/2017/10/07/the-kraft-heinz-company-khc-shares-sold-by-essex-financial-services-inc.html.

KHC has been the topic of a number of research reports. Zacks Investment Research cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of The Kraft Heinz in a research note on Tuesday, August 1st. Piper Jaffray Companies raised shares of The Kraft Heinz from a “neutral” rating to an “overweight” rating and decreased their target price for the stock from $92.00 to $90.00 in a research note on Friday. BMO Capital Markets reaffirmed a “hold” rating and set a $96.00 target price on shares of The Kraft Heinz in a research note on Thursday, June 15th. Finally, BidaskClub cut shares of The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $96.36.

Shares of The Kraft Heinz Company (NASDAQ:KHC) opened at 78.18 on Friday. The Kraft Heinz Company has a 52 week low of $76.76 and a 52 week high of $97.77. The company has a market cap of $95.24 billion, a PE ratio of 25.06 and a beta of 0.44. The company has a 50 day moving average of $79.43 and a 200 day moving average of $79.43.

The Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.02. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. The Kraft Heinz had a net margin of 14.67% and a return on equity of 7.52%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.85 EPS. On average, analysts expect that The Kraft Heinz Company will post $3.24 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, August 18th were issued a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend was Wednesday, August 16th. This is a positive change from The Kraft Heinz’s previous quarterly dividend of $0.60. The Kraft Heinz’s dividend payout ratio (DPR) is 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.

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Kraft Heinz Company (NASDAQ:KHC).

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

Receive News & Stock Ratings for The Kraft Heinz Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Kraft Heinz Company and related stocks with our FREE daily email newsletter.