Trade Report: The British Columbia Investment Management Corp cuts position of Kraft Heinz Co. (KHC)

The British Columbia Investment Management Corp cuts position of Kraft Heinz Co. (KHC)

British Columbia Investment Management Corp decreased its position in shares of Kraft Heinz Co. (NASDAQ:KHC) by 12.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 280,694 shares of the company’s stock after selling 40,247 shares during the period. British Columbia Investment Management Corp’s holdings in Kraft Heinz were worth $25,125,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in KHC. Trust Co increased its position in Kraft Heinz by 2.9% in the first quarter. Trust Co now owns 11,422 shares of the company’s stock worth $897,000 after buying an additional 317 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its position in Kraft Heinz by 1.4% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 518,359 shares of the company’s stock worth $45,865,000 after buying an additional 7,276 shares in the last quarter. Exxonmobil Investment Management Inc. TX increased its position in Kraft Heinz by 6.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 154,228 shares of the company’s stock worth $13,646,000 after buying an additional 9,459 shares in the last quarter. DNB Asset Management AS increased its position in Kraft Heinz by 5.7% in the second quarter. DNB Asset Management AS now owns 61,160 shares of the company’s stock worth $5,411,000 after buying an additional 3,300 shares in the last quarter. Finally, NEXT Financial Group Inc increased its position in Kraft Heinz by 2.3% in the second quarter. NEXT Financial Group Inc now owns 15,068 shares of the company’s stock worth $1,333,000 after buying an additional 336 shares in the last quarter. Institutional investors and hedge funds own 61.69% of the company’s stock.

Kraft Heinz Co. (NASDAQ:KHC) traded up 0.62% during midday trading on Friday, reaching $82.95. 1,230,342 shares of the company’s stock traded hands. The stock has a market cap of $100.97 billion, a PE ratio of 36.51 and a beta of 0.48. The stock’s 50 day moving average price is $85.96 and its 200-day moving average price is $86.84. Kraft Heinz Co. has a one year low of $68.18 and a one year high of $90.54.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Kraft Heinz had a return on equity of 6.40% and a net margin of 10.44%. The firm earned $6.27 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the company earned $0.44 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Equities analysts predict that Kraft Heinz Co. will post $3.24 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Friday, December 2nd will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $2.40 annualized dividend and a dividend yield of 2.89%. Kraft Heinz’s payout ratio is presently 105.26%.

A number of equities analysts have issued reports on the stock. Vetr downgraded shares of Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $88.44 price objective on the stock. in a report on Monday, November 21st. Zacks Investment Research downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. RBC Capital Markets reaffirmed an “outperform” rating and set a $99.00 price objective (up from $96.00) on shares of Kraft Heinz in a report on Monday, November 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $96.00 price objective (down from $99.00) on shares of Kraft Heinz in a report on Monday, November 7th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Kraft Heinz in a report on Friday, November 4th. Two analysts have rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Kraft Heinz has a consensus rating of “Buy” and an average target price of $98.96.

In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 26.92% of the company’s stock.

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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