Waters Parkerson & CO. LLC raised its position in The Kraft Heinz Company (NASDAQ:KHC) by 3.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,728 shares of the company’s stock after acquiring an additional 246 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in The Kraft Heinz were worth $662,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in KHC. Segment Wealth Management LLC bought a new position in shares of The Kraft Heinz in the first quarter valued at about $270,000. Pitcairn Co. raised its position in shares of The Kraft Heinz by 63.3% in the first quarter. Pitcairn Co. now owns 9,892 shares of the company’s stock valued at $899,000 after purchasing an additional 3,833 shares during the period. Norinchukin Bank The raised its position in shares of The Kraft Heinz by 4.3% in the first quarter. Norinchukin Bank The now owns 69,303 shares of the company’s stock valued at $6,293,000 after purchasing an additional 2,841 shares during the period. AGF Investments America Inc. raised its position in shares of The Kraft Heinz by 1.8% in the first quarter. AGF Investments America Inc. now owns 15,153 shares of the company’s stock valued at $1,376,000 after purchasing an additional 265 shares during the period. Finally, AGF Investments Inc. raised its position in shares of The Kraft Heinz by 1.4% in the first quarter. AGF Investments Inc. now owns 879,332 shares of the company’s stock valued at $79,779,000 after purchasing an additional 12,322 shares during the period. Hedge funds and other institutional investors own 61.79% of the company’s stock.
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Several equities analysts have recently weighed in on the stock. Credit Suisse Group set a $100.00 price objective on shares of The Kraft Heinz and gave the company a “buy” rating in a research report on Saturday, July 29th. Susquehanna Bancshares Inc reaffirmed a “hold” rating on shares of The Kraft Heinz in a research report on Tuesday, August 1st. Zacks Investment Research lowered shares of The Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Tuesday, August 8th. Piper Jaffray Companies set a $92.00 price target on shares of The Kraft Heinz and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Finally, Berenberg Bank set a $102.00 price target on shares of The Kraft Heinz and gave the stock a “buy” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $95.53.
Shares of The Kraft Heinz Company (NASDAQ KHC) opened at 77.33 on Wednesday. The firm has a market capitalization of $94.21 billion, a P/E ratio of 24.79 and a beta of 0.44. The company’s 50-day moving average is $78.33 and its 200 day moving average is $85.36. The Kraft Heinz Company has a 52-week low of $75.21 and a 52-week high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The business had revenue of $6.68 billion during the quarter, compared to analyst estimates of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The Kraft Heinz’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.85 earnings per share. Analysts expect that The Kraft Heinz Company will post $3.24 EPS for the current fiscal year.
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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