The Livforsakringsbolaget Skandia Omsesidigt Sells 47,516 Shares of The Kraft Heinz Company (KHC)

The Livforsakringsbolaget Skandia Omsesidigt Sells 47,516 Shares of The Kraft Heinz Company (KHC)

Livforsakringsbolaget Skandia Omsesidigt reduced its position in The Kraft Heinz Company (NASDAQ:KHC) by 89.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,600 shares of the company’s stock after selling 47,516 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in The Kraft Heinz Company were worth $530,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of KHC. Bollard Group LLC increased its stake in The Kraft Heinz Company by 815.4% in the third quarter. Bollard Group LLC now owns 1,126 shares of the company’s stock valued at $101,000 after buying an additional 1,003 shares during the period. Cornerstone Advisors Inc. increased its stake in The Kraft Heinz Company by 129.0% in the third quarter. Cornerstone Advisors Inc. now owns 1,223 shares of the company’s stock valued at $109,000 after buying an additional 689 shares during the period. Enterprise Financial Services Corp increased its stake in The Kraft Heinz Company by 8.5% in the second quarter. Enterprise Financial Services Corp now owns 1,280 shares of the company’s stock valued at $113,000 after buying an additional 100 shares during the period. CWM LLC increased its stake in The Kraft Heinz Company by 21.9% in the third quarter. CWM LLC now owns 1,367 shares of the company’s stock valued at $122,000 after buying an additional 246 shares during the period. Finally, Blue Chip Partners Inc. acquired a new stake in The Kraft Heinz Company during the second quarter valued at $128,000. Institutional investors own 60.69% of the company’s stock.

The Kraft Heinz Company (NASDAQ:KHC) traded up 0.49% during trading on Wednesday, reaching $88.35. The company’s stock had a trading volume of 2,881,765 shares. The Kraft Heinz Company has a 1-year low of $70.01 and a 1-year high of $90.54. The stock has a 50 day moving average price of $85.42 and a 200 day moving average price of $87.01. The stock has a market capitalization of $107.55 billion, a PE ratio of 38.89 and a beta of 0.42.

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

Several analysts have recently weighed in on KHC shares. Zacks Investment Research downgraded The Kraft Heinz Company from a “buy” rating to a “hold” rating in a research report on Tuesday, November 8th. J P Morgan Chase & Co reiterated a “focus list” rating on shares of The Kraft Heinz Company in a research report on Tuesday, October 4th. Vetr upgraded The Kraft Heinz Company from a “buy” rating to a “strong-buy” rating and set a $98.22 target price for the company in a research report on Thursday, October 6th. Argus lifted their target price on The Kraft Heinz Company from $91.00 to $96.00 and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Finally, Sanford C. Bernstein reiterated a “top pick” rating and set a $109.00 target price on shares of The Kraft Heinz Company in a research report on Friday, January 6th. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $98.59.

About The Kraft Heinz Company

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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