Pennsylvania Trust Co Sells 2,922 Shares of Kraft Heinz Co (KHC)

Pennsylvania Trust Co lowered its position in Kraft Heinz Co (NASDAQ:KHC) by 6.8% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 39,886 shares of the company’s stock after selling 2,922 shares during the quarter. Pennsylvania Trust Co’s holdings in Kraft Heinz were worth $1,716,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Kraft Heinz by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 46,457,007 shares of the company’s stock valued at $2,560,246,000 after purchasing an additional 1,123,288 shares during the period. Vanguard Group Inc grew its position in shares of Kraft Heinz by 2.5% during the 3rd quarter. Vanguard Group Inc now owns 46,457,007 shares of the company’s stock worth $2,560,246,000 after buying an additional 1,123,288 shares during the period. BlackRock Inc. grew its position in shares of Kraft Heinz by 2.8% during the 3rd quarter. BlackRock Inc. now owns 36,036,271 shares of the company’s stock worth $1,985,959,000 after buying an additional 997,088 shares during the period. Morgan Stanley grew its position in shares of Kraft Heinz by 3.9% during the 3rd quarter. Morgan Stanley now owns 12,113,755 shares of the company’s stock worth $667,589,000 after buying an additional 451,572 shares during the period. Finally, FMR LLC grew its position in shares of Kraft Heinz by 5.3% during the 3rd quarter. FMR LLC now owns 8,693,659 shares of the company’s stock worth $479,108,000 after buying an additional 438,842 shares during the period. 62.61% of the stock is owned by institutional investors.

Shares of KHC opened at $46.91 on Wednesday. Kraft Heinz Co has a 12-month low of $41.60 and a 12-month high of $80.67. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $56.40 billion, a P/E ratio of 12.95, a PEG ratio of 2.24 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, November 1st. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $6.31 billion. During the same quarter in the prior year, the business earned $0.83 earnings per share. Kraft Heinz’s revenue for the quarter was up 1.6% on a year-over-year basis. As a group, sell-side analysts forecast that Kraft Heinz Co will post 3.62 earnings per share for the current fiscal year.

Several analysts have recently commented on the stock. BidaskClub raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BMO Capital Markets reduced their price objective on shares of 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. 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 research report on Friday, November 2nd. Zacks Investment Research downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Finally, UBS Group set a $65.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Friday, November 2nd. Seven research analysts have rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Kraft Heinz has an average rating of “Hold” and an average price target of $66.89.

TRADEMARK VIOLATION NOTICE: This piece was first posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece on another website, it was copied illegally and reposted in violation of United States & international trademark & copyright law. The original version of this piece can be accessed at https://www.themarketsdaily.com/2019/01/16/pennsylvania-trust-co-sells-2922-shares-of-kraft-heinz-co-khc.html.

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.

Further Reading: Terms to Better Understand Call Options

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Co (NASDAQ:KHC).

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

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply