ProVise Management Group LLC Has $1.10 Million Stake in Kraft Heinz Co (KHC)
ProVise Management Group LLC decreased its holdings in shares of Kraft Heinz Co (NASDAQ:KHC) by 13.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,219 shares of the company’s stock after selling 2,263 shares during the quarter. ProVise Management Group LLC’s holdings in Kraft Heinz were worth $1,102,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in KHC. Westside Investment Management Inc. increased its stake in shares of Kraft Heinz by 16.6% during the 2nd quarter. Westside Investment Management Inc. now owns 1,209 shares of the company’s stock worth $100,000 after purchasing an additional 172 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. increased its stake in shares of Kraft Heinz by 287.9% during the 2nd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 1,280 shares of the company’s stock worth $110,000 after purchasing an additional 950 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in shares of Kraft Heinz during the 2nd quarter worth $121,000. Blue Chip Partners Inc. boosted its holdings in shares of Kraft Heinz by 0.5% during the 2nd quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock worth $127,000 after buying an additional 8 shares during the period. Finally, GWM Advisors LLC bought a new stake in shares of Kraft Heinz during the 2nd quarter worth $137,000. Institutional investors own 62.06% of the company’s stock.
Shares of Kraft Heinz Co (NASDAQ:KHC) opened at $80.49 on Thursday. 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 1-year low of $75.21 and a 1-year high of $97.77. The firm has a market cap of $99,816.90, a price-to-earnings ratio of 23.01, a price-to-earnings-growth ratio of 2.27 and a beta of 0.45.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.83. Kraft Heinz had a net margin of 15.03% and a return on equity of 7.49%. The firm had revenue of $6.31 billion during the quarter, compared to the consensus estimate of $6.33 billion. During the same period in the prior year, the firm earned $0.83 EPS. The business’s revenue was up .7% on a year-over-year basis. equities research analysts predict that Kraft Heinz Co will post 3.61 earnings per share for the current 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. This represents a $2.50 dividend on an annualized basis and a yield of 3.11%. The ex-dividend date of this dividend is Thursday, November 16th. Kraft Heinz’s dividend payout ratio (DPR) is presently 77.88%.
Several analysts recently issued reports on KHC shares. UBS reaffirmed a “buy” rating and set a $89.00 price objective (down from $97.00) on shares of Kraft Heinz in a report on Friday, October 13th. Credit Suisse Group set a $100.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a report on Sunday, September 10th. BidaskClub raised shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Saturday, August 12th. Piper Jaffray Companies raised shares of Kraft Heinz from a “neutral” rating to an “overweight” rating and decreased their price objective for the stock from $92.00 to $90.00 in a report on Friday, October 6th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $95.00 price objective on shares of Kraft Heinz in a report on Tuesday, October 3rd. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $92.49.
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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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