The Kraft Heinz Company (NASDAQ:KHC) is Wedgewood Partners Inc.’s 3rd Largest Position
Wedgewood Partners Inc. cut its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 10.6% during the first quarter, Holdings Channel reports. The firm owned 3,096,398 shares of the company’s stock after selling 368,645 shares during the period. The Kraft Heinz comprises 7.2% of Wedgewood Partners Inc.’s portfolio, making the stock its 3rd largest position. Wedgewood Partners Inc.’s holdings in The Kraft Heinz were worth $281,183,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in KHC. Rockefeller Financial Services Inc. raised its stake in The Kraft Heinz by 240.2% in the first quarter. Rockefeller Financial Services Inc. now owns 1,133 shares of the company’s stock worth $103,000 after buying an additional 800 shares during the period. Bollard Group LLC raised its stake in The Kraft Heinz by 0.7% in the first quarter. Bollard Group LLC now owns 1,149 shares of the company’s stock worth $104,000 after buying an additional 8 shares during the period. Crestwood Advisors Group LLC acquired a new stake in The Kraft Heinz during the first quarter worth about $109,000. Blue Chip Partners Inc. raised its stake in The Kraft Heinz by 0.5% in the first quarter. Blue Chip Partners Inc. now owns 1,476 shares of the company’s stock worth $134,000 after buying an additional 8 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in The Kraft Heinz during the first quarter worth about $136,000. 62.01% of the stock is currently owned by hedge funds and other institutional investors.
The Kraft Heinz Company (KHC) traded up 0.68% during trading on Friday, hitting $86.47. The company had a trading volume of 2,539,485 shares. The Kraft Heinz Company has a one year low of $79.69 and a one year high of $97.77. The stock has a 50-day moving average of $86.07 and a 200 day moving average of $89.76. The company 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 (NASDAQ:KHC) last posted its earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, beating the 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 company had revenue of $6.68 billion for the quarter, compared to the consensus estimate of $6.73 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts forecast that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 18th will be given a $0.625 dividend. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Wednesday, August 16th. This represents a $2.50 annualized dividend and a dividend yield of 2.89%. The Kraft Heinz’s dividend payout ratio is presently 76.68%.
A number of analysts have issued reports on the company. BidaskClub lowered The Kraft Heinz from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 5th. Royal Bank Of Canada set a $96.00 target price on The Kraft Heinz and gave the company a “buy” rating in a report on Saturday, June 3rd. Credit Suisse Group set a $100.00 target price on The Kraft Heinz and gave the company a “buy” rating in a report on Saturday, August 5th. Consumer Edge raised The Kraft Heinz to an “overweight” rating in a report on Thursday, May 4th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $99.00 target price (down previously from $102.00) on shares of The Kraft Heinz in a report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. The Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $97.45.
The 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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