Murphy Capital Management Inc. Sells 1,763 Shares of Kraft Heinz Co (KHC)

Murphy Capital Management Inc. reduced its stake in Kraft Heinz Co (NASDAQ:KHC) by 16.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,111 shares of the company’s stock after selling 1,763 shares during the period. Murphy Capital Management Inc.’s holdings in Kraft Heinz were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of KHC. FMR LLC lifted its holdings in shares of Kraft Heinz by 34.4% during the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after purchasing an additional 2,111,198 shares during the last quarter. City Holding Co. lifted its position in shares of Kraft Heinz by 29.1% in the 3rd quarter. City Holding Co. now owns 19,575 shares of the company’s stock worth $1,079,000 after acquiring an additional 4,415 shares during the period. Hamlin Capital Management LLC acquired a new position in shares of Kraft Heinz in the 3rd quarter worth approximately $36,196,000. First Hawaiian Bank acquired a new position in shares of Kraft Heinz in the 3rd quarter worth approximately $562,000. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its holdings in Kraft Heinz by 43.2% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 7,844 shares of the company’s stock valued at $432,000 after purchasing an additional 2,367 shares in the last quarter. Hedge funds and other institutional investors own 63.31% of the company’s stock.

NASDAQ:KHC opened at $47.46 on Monday. Kraft Heinz Co has a 12-month low of $41.60 and a 12-month high of $72.78. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.57 and a current ratio of 1.00. The firm has a market capitalization of $57.87 billion, a PE ratio of 13.37, a P/E/G ratio of 2.32 and a beta of 0.72.

Several equities research analysts have recently commented on the company. Piper Jaffray Companies set a $62.00 target price on Kraft Heinz and gave the company a “buy” rating in a research note on Friday, November 2nd. ValuEngine raised Kraft Heinz from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 13th. Morgan Stanley set a $49.00 target price on Kraft Heinz and gave the company a “sell” rating in a research note on Wednesday, November 7th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Finally, Berenberg Bank set a $60.00 target price on Kraft Heinz and gave the company a “buy” rating in a research note on Tuesday, January 22nd. Six equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company’s stock. Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $64.43.

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Kraft Heinz 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.

Further Reading: Bond

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

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