Pegasus Partners Ltd. Cuts Stake in Kraft Heinz Co (KHC)
Pegasus Partners Ltd. trimmed its position in Kraft Heinz Co (NASDAQ:KHC) by 4.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,262 shares of the company’s stock after selling 1,073 shares during the quarter. Pegasus Partners Ltd.’s holdings in Kraft Heinz were worth $1,804,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Kraft Heinz by 2,314.8% during the 1st quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after buying an additional 31,204,852 shares during the period. Morgan Stanley raised its holdings in shares of Kraft Heinz by 55.6% during the 1st 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. FMR LLC raised its holdings in shares of Kraft Heinz by 30.0% during the 2nd 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. Vanguard Group Inc. raised its holdings in shares of Kraft Heinz by 3.9% during the 1st quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock valued at $3,827,601,000 after buying an additional 1,585,231 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Kraft Heinz during the 2nd quarter valued at about $102,151,000. Institutional investors own 62.06% of the company’s stock.
Several equities research analysts recently commented on KHC shares. Zacks Investment Research upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. BMO Capital Markets reiterated a “hold” rating and set a $96.00 target price on shares of Kraft Heinz in a report on Wednesday, September 6th. Credit Suisse Group set a $100.00 target price on Kraft Heinz and gave the company a “buy” rating in a report on Sunday, September 10th. Susquehanna Bancshares restated a “hold” rating and set a $84.00 price objective on shares of Kraft Heinz in a research note on Thursday, September 14th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $95.00 price objective on shares of Kraft Heinz in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $92.49.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. The firm had revenue of $6.31 billion during the quarter, compared to analyst estimates of $6.33 billion. Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. Kraft Heinz’s quarterly revenue was up .7% on a year-over-year basis. During the same quarter last year, the firm earned $0.83 EPS. equities research analysts forecast that Kraft Heinz Co will post 3.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, November 17th will be given a $0.625 dividend. The ex-dividend date is Thursday, November 16th. This represents a $2.50 annualized dividend and a dividend yield of 3.19%. Kraft Heinz’s payout ratio is 77.88%.
Kraft Heinz Company 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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