Wedgewood Partners Inc. Cuts Position in The Kraft Heinz Company (NASDAQ:KHC)
Wedgewood Partners Inc. lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 10.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,096,398 shares of the company’s stock after selling 368,645 shares during the period. The Kraft Heinz makes up approximately 7.2% of Wedgewood Partners Inc.’s holdings, making the stock its 3rd largest position. Wedgewood Partners Inc. owned about 0.25% of The Kraft Heinz worth $281,183,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Signaturefd LLC increased its position in The Kraft Heinz by 29.0% in the first quarter. Signaturefd LLC now owns 6,681 shares of the company’s stock worth $607,000 after buying an additional 1,502 shares in the last quarter. Level Four Advisory Services LLC increased its position in The Kraft Heinz by 29.0% in the first quarter. Level Four Advisory Services LLC now owns 10,978 shares of the company’s stock worth $1,004,000 after buying an additional 2,470 shares in the last quarter. State Street Corp increased its position in The Kraft Heinz by 2.8% in the first quarter. State Street Corp now owns 24,579,995 shares of the company’s stock worth $2,232,113,000 after buying an additional 680,941 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in The Kraft Heinz during the first quarter worth approximately $6,687,000. Finally, Edmond DE Rothschild Holding S.A. increased its position in The Kraft Heinz by 192.8% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 4,304 shares of the company’s stock worth $391,000 after buying an additional 2,834 shares in the last quarter. 62.01% of the stock is owned by institutional investors.
The Kraft Heinz Company (NASDAQ KHC) traded up 0.68% during trading on Friday, reaching $86.47. The company’s stock had a trading volume of 2,539,485 shares. The firm has a market capitalization of $105.34 billion, a price-to-earnings ratio of 27.71 and a beta of 0.44. The Kraft Heinz Company has a 52-week low of $79.69 and a 52-week high of $97.77. The stock’s 50-day moving average is $86.07 and its 200 day moving average is $89.76.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.98 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The business had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same period last year, the business earned $0.85 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. On average, analysts predict that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 18th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a dividend yield of 2.89%. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The ex-dividend date is Wednesday, August 16th. The Kraft Heinz’s dividend payout ratio (DPR) is presently 76.68%.
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A number of research analysts have recently commented on the stock. BidaskClub raised shares of The Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Saturday. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $85.00 price objective (down previously from $94.00) on shares of The Kraft Heinz in a research note on Wednesday. Zacks Investment Research downgraded shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday. Berenberg Bank set a $102.00 price objective on shares of The Kraft Heinz and gave the company a “buy” rating in a research note on Monday, August 7th. Finally, Credit Suisse Group set a $100.00 target price on The Kraft Heinz and gave the stock a “buy” rating in a report on Saturday, August 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $97.45.
About The 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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