The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Tokio Marine Asset Management Co. Ltd.
Tokio Marine Asset Management Co. Ltd. reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 21.3% during the first quarter, Holdings Channel reports. The firm owned 10,404 shares of the company’s stock after selling 2,823 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in The Kraft Heinz were worth $945,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of KHC. Macquarie Group Ltd. raised its stake in The Kraft Heinz by 4.6% in the fourth quarter. Macquarie Group Ltd. now owns 8,735,219 shares of the company’s stock worth $762,759,000 after buying an additional 386,065 shares during the period. Bank of New York Mellon Corp raised its stake in The Kraft Heinz by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 8,310,748 shares of the company’s stock worth $754,700,000 after buying an additional 435,869 shares during the period. Norges Bank bought a new stake in The Kraft Heinz during the fourth quarter worth about $715,658,000. UBS Asset Management Americas Inc. raised its stake in The Kraft Heinz by 4.5% in the first quarter. UBS Asset Management Americas Inc. now owns 2,527,641 shares of the company’s stock worth $229,535,000 after buying an additional 107,814 shares during the period. Finally, Swiss National Bank raised its stake in The Kraft Heinz by 26.7% in the first quarter. Swiss National Bank now owns 2,201,163 shares of the company’s stock worth $199,888,000 after buying an additional 463,400 shares during the period. Institutional investors and hedge funds own 61.95% of the company’s stock.
The Kraft Heinz Company (NASDAQ:KHC) opened at 85.60 on Tuesday. The Kraft Heinz Company has a 12 month low of $79.69 and a 12 month high of $97.77. The company has a 50-day moving average price of $90.71 and a 200 day moving average price of $90.03. The stock has a market capitalization of $104.23 billion, a price-to-earnings ratio of 30.46 and a beta of 0.44.
The Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, May 3rd. The company reported $0.84 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.01. The firm had revenue of $6.36 billion during the quarter, compared to analysts’ expectations of $6.44 billion. The Kraft Heinz had a return on equity of 7.25% and a net margin of 13.12%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. Equities analysts predict that The Kraft Heinz Company will post $3.24 earnings per share for the current year.
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KHC has been the subject of a number of analyst reports. Credit Suisse Group restated an “outperform” rating on shares of The Kraft Heinz in a research report on Sunday, April 23rd. Zacks Investment Research upgraded The Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Berenberg Bank initiated coverage on The Kraft Heinz in a research report on Wednesday, June 7th. They issued a “buy” rating and a $102.00 price target for the company. BMO Capital Markets restated a “hold” rating and issued a $96.00 price target on shares of The Kraft Heinz in a research report on Thursday, June 15th. Finally, Susquehanna Bancshares Inc set a $99.00 price target on The Kraft Heinz and gave the company a “hold” rating in a research report on Tuesday, June 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $97.96.
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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