PNC Financial Services Group Inc. Sells 47,185 Shares of Kraft Heinz Co (KHC)

PNC Financial Services Group Inc. reduced its stake in shares of Kraft Heinz Co (NASDAQ:KHC) by 5.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 804,284 shares of the company’s stock after selling 47,185 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kraft Heinz were worth $44,325,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Integrated Investment Consultants LLC raised its position in Kraft Heinz by 133.5% during the second quarter. Integrated Investment Consultants LLC now owns 1,688 shares of the company’s stock valued at $106,000 after acquiring an additional 965 shares in the last quarter. Stevens First Principles Investment Advisors purchased a new position in Kraft Heinz during the second quarter valued at approximately $108,000. Mainstay Capital Management LLC ADV raised its position in Kraft Heinz by 5,429.3% during the second quarter. Mainstay Capital Management LLC ADV now owns 6,414 shares of the company’s stock valued at $108,000 after acquiring an additional 6,298 shares in the last quarter. Blume Capital Management Inc. raised its position in Kraft Heinz by 166.7% during the third quarter. Blume Capital Management Inc. now owns 2,080 shares of the company’s stock valued at $115,000 after acquiring an additional 1,300 shares in the last quarter. Finally, CSat Investment Advisory L.P. purchased a new position in Kraft Heinz during the second quarter valued at approximately $120,000. Institutional investors own 63.99% of the company’s stock.

Kraft Heinz stock opened at $51.04 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.00 and a quick ratio of 0.57. Kraft Heinz Co has a 12 month low of $50.41 and a 12 month high of $82.48. The company has a market capitalization of $62.39 billion, a PE ratio of 14.38, a price-to-earnings-growth ratio of 2.28 and a beta of 0.45.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by ($0.03). Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same quarter in the previous year, the firm posted $0.83 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, equities analysts predict that Kraft Heinz Co will post 3.65 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be given a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, November 15th. Kraft Heinz’s payout ratio is 70.42%.

Several research analysts recently weighed in on the company. Zacks Investment Research cut Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Wednesday, September 5th. Bank of America set a $85.00 price objective on Kraft Heinz and gave the company a “buy” rating in a research report on Monday, August 6th. BidaskClub upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BMO Capital Markets cut their price objective on Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating for the company in a research report on Monday, November 5th. Finally, Susquehanna Bancshares restated a “negative” rating and issued a $47.00 price objective (down from $59.00) on shares of Kraft Heinz in a research report on Friday, November 2nd. Six equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $66.89.

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Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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