Emerging Sovereign Group LLC Lowers Holdings in Kraft Heinz Co (KHC)
Emerging Sovereign Group LLC lessened its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 31.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 88,630 shares of the company’s stock after selling 41,480 shares during the period. Kraft Heinz accounts for 2.9% of Emerging Sovereign Group LLC’s portfolio, making the stock its 8th largest holding. Emerging Sovereign Group LLC’s holdings in Kraft Heinz were worth $6,873,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Blue Chip Partners Inc. grew its stake in shares of Kraft Heinz by 0.5% in the second quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock worth $127,000 after acquiring an additional 8 shares during the last quarter. Martingale Asset Management L P grew its stake in shares of Kraft Heinz by 0.5% in the second quarter. Martingale Asset Management L P now owns 2,724 shares of the company’s stock worth $234,000 after acquiring an additional 13 shares during the last quarter. Guardian Life Insurance Co. of America grew its stake in shares of Kraft Heinz by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,301 shares of the company’s stock worth $209,000 after acquiring an additional 16 shares during the last quarter. Ropes Wealth Advisors LLC grew its stake in shares of Kraft Heinz by 0.4% in the second quarter. Ropes Wealth Advisors LLC now owns 3,841 shares of the company’s stock worth $329,000 after acquiring an additional 17 shares during the last quarter. Finally, National Asset Management Inc. grew its stake in shares of Kraft Heinz by 0.5% in the first quarter. National Asset Management Inc. now owns 4,477 shares of the company’s stock worth $408,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 62.06% of the company’s stock.
Several equities research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Saturday, December 9th. Royal Bank of Canada restated a “buy” rating and issued a $95.00 price objective on shares of Kraft Heinz in a research note on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 21st. Goldman Sachs Group downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $95.00 to $87.00 in a research note on Wednesday, October 4th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $90.00 target price (down from $100.00) on shares of Kraft Heinz in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. Kraft Heinz presently has a consensus rating of “Buy” and an average price target of $92.49.
Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, November 1st. The company reported $0.83 EPS for the quarter, hitting the consensus estimate of $0.83. The firm had revenue of $6.31 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period last year, the business earned $0.83 earnings per share. analysts predict that Kraft Heinz Co will post 3.61 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, November 17th were issued a dividend of $0.625 per share. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.14%. Kraft Heinz’s payout ratio is presently 77.88%.
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About 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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