DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 12.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,819 shares of the company’s stock after purchasing an additional 975 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in Kraft Heinz were worth $380,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the company. North Star Investment Management Corp. increased its position in Kraft Heinz by 0.4% during the fourth quarter. North Star Investment Management Corp. now owns 60,799 shares of the company’s stock valued at $2,617,000 after acquiring an additional 237 shares during the last quarter. Welch Group LLC increased its holdings in Kraft Heinz by 4.1% in the 4th quarter. Welch Group LLC now owns 7,384 shares of the company’s stock worth $318,000 after buying an additional 289 shares during the period. Endurance Wealth Management Inc. grew its stake in shares of Kraft Heinz by 11.6% during the 4th quarter. Endurance Wealth Management Inc. now owns 3,378 shares of the company’s stock worth $146,000 after purchasing an additional 350 shares during the period. Fulton Bank N.A. grew its stake in Kraft Heinz by 2.5% in the 4th quarter. Fulton Bank N.A. now owns 18,793 shares of the company’s stock valued at $809,000 after acquiring an additional 462 shares during the period. Finally, Central Bank & Trust Co. lifted its holdings in Kraft Heinz by 35.3% in the 3rd quarter. Central Bank & Trust Co. now owns 1,915 shares of the company’s stock valued at $106,000 after purchasing an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 62.61% of the company’s stock.
A number of brokerages recently issued reports on KHC. BidaskClub raised Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BMO Capital Markets cut their price target on Kraft Heinz from $67.00 to $61.00 and set a “market perform” rating for the company in a research note on Monday, November 5th. Susquehanna Bancshares reaffirmed a “negative” rating and set a $47.00 price objective (down previously from $59.00) on shares of Kraft Heinz in a report on Friday, November 2nd. Zacks Investment Research lowered Kraft Heinz from a “hold” rating to a “sell” rating in a report on Tuesday, January 8th. Finally, UBS Group set a $65.00 target price on Kraft Heinz and gave the stock a “buy” rating in a research report on Friday, November 2nd. Seven analysts have rated the stock with a sell rating, two have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Kraft Heinz currently has an average rating of “Hold” and a consensus price target of $66.89.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, November 1st. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.03). Kraft Heinz had a net margin of 39.56% and a return on equity of 6.62%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.31 billion. During the same period in the prior year, the firm earned $0.83 EPS. Kraft Heinz’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that Kraft Heinz Co will post 3.62 earnings per share for the current fiscal year.
About Kraft Heinz
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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