Family Management Corp Has $2.38 Million Stake in Kraft Heinz Co (KHC)
Family Management Corp lessened its position in Kraft Heinz Co (NASDAQ:KHC) by 2.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,640 shares of the company’s stock after selling 885 shares during the quarter. Kraft Heinz accounts for 1.6% of Family Management Corp’s portfolio, making the stock its 27th largest position. Family Management Corp’s holdings in Kraft Heinz were worth $2,376,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in KHC. Westside Investment Management Inc. increased its stake in Kraft Heinz by 16.6% in the 2nd quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock worth $100,000 after buying an additional 172 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in Kraft Heinz by 287.9% in the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock worth $110,000 after buying an additional 950 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in Kraft Heinz in the 2nd quarter worth about $121,000. Blue Chip Partners Inc. increased its stake in Kraft Heinz by 0.5% in the 2nd quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock worth $127,000 after buying an additional 8 shares during the period. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its stake in Kraft Heinz by 7.0% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,527 shares of the company’s stock worth $139,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.
Kraft Heinz Co (NASDAQ KHC) opened at $79.28 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.77 and a quick ratio of 0.43. Kraft Heinz Co has a 12-month low of $75.21 and a 12-month high of $97.77. The stock has a market cap of $96,580.00 and a P/E ratio of 22.01.
The company also recently disclosed 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. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date is Thursday, November 16th. Kraft Heinz’s payout ratio is currently 77.88%.
A number of research analysts have commented on KHC shares. Morgan Stanley cut their target price on shares of Kraft Heinz from $95.00 to $92.00 and set an “overweight” rating on the stock in a research report on Friday, October 13th. Stifel Nicolaus reissued a “buy” rating and set a $95.00 target price on shares of Kraft Heinz in a research report on Thursday, September 21st. Credit Suisse Group set a $100.00 target price on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Sunday, September 10th. BMO Capital Markets reissued a “hold” rating and set a $96.00 target price on shares of Kraft Heinz in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Monday, August 21st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $92.49.
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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