D.A. Davidson & CO. Trims Stake in Kraft Heinz Co (KHC)
D.A. Davidson & CO. trimmed its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 13.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,601 shares of the company’s stock after selling 3,720 shares during the period. D.A. Davidson & CO.’s holdings in Kraft Heinz were worth $1,830,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of KHC. Icon Advisers Inc. Co. purchased a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $256,000. Cannell Peter B & Co. Inc. increased its stake in shares of Kraft Heinz by 2.5% during the 3rd quarter. Cannell Peter B & Co. Inc. now owns 55,177 shares of the company’s stock worth $4,279,000 after purchasing an additional 1,325 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Kraft Heinz by 3.7% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 139,617 shares of the company’s stock worth $10,827,000 after purchasing an additional 4,941 shares in the last quarter. Turim 21 Investimentos Ltda. purchased a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $49,126,000. Finally, Yorktown Management & Research Co Inc purchased a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $155,000. Institutional investors own 62.06% of the company’s stock.
KHC has been the subject of a number of recent research reports. Susquehanna Bancshares reissued a “neutral” rating and set a $85.00 price objective (down from $94.00) on shares of Kraft Heinz in a research note on Wednesday, August 9th. BidaskClub raised shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 12th. Piper Jaffray Companies set a $92.00 target price on shares of Kraft Heinz and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 21st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $95.00 target price on shares of Kraft Heinz in a research note on Friday, September 1st. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $92.49.
Shares of Kraft Heinz Co (KHC) opened at $80.49 on Thursday. The company has a market cap of $99,816.90, a P/E ratio of 23.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.45. The company has a quick ratio of 0.43, a current ratio of 0.77 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a 12 month low of $75.21 and a 12 month high of $97.77.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The company had revenue of $6.31 billion for the quarter, compared to analyst estimates of $6.33 billion. Kraft Heinz had a net margin of 15.03% and a return on equity of 7.49%. Kraft Heinz’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter last year, the business earned $0.83 EPS. equities analysts anticipate that Kraft Heinz Co will post 3.61 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be issued a $0.625 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 3.11%. Kraft Heinz’s dividend payout ratio (DPR) 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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