Symphony Asset Management LLC Raises Position in The Kraft Heinz Company (KHC)

Symphony Asset Management LLC increased its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 15.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,363 shares of the company’s stock after acquiring an additional 4,377 shares during the quarter. Symphony Asset Management LLC’s holdings in The Kraft Heinz were worth $2,772,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Waldron LP raised its stake in The Kraft Heinz by 5.8% during the first quarter. Waldron LP now owns 4,518 shares of the company’s stock valued at $410,000 after purchasing an additional 247 shares in the last quarter. Karp Capital Management Corp purchased a new stake in The Kraft Heinz during the first quarter valued at $22,222,000. First Foundation Advisors raised its stake in The Kraft Heinz by 0.5% during the first quarter. First Foundation Advisors now owns 5,121 shares of the company’s stock valued at $465,000 after purchasing an additional 23 shares in the last quarter. Smith Salley & Associates raised its stake in The Kraft Heinz by 10.1% during the first quarter. Smith Salley & Associates now owns 3,521 shares of the company’s stock valued at $319,000 after purchasing an additional 324 shares in the last quarter. Finally, Sei Investments Co. raised its stake in The Kraft Heinz by 6.1% during the first quarter. Sei Investments Co. now owns 373,029 shares of the company’s stock valued at $33,874,000 after purchasing an additional 21,582 shares in the last quarter. Hedge funds and other institutional investors own 61.76% of the company’s stock.

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A number of equities research analysts recently issued reports on KHC shares. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $99.00 price target (down previously from $102.00) on shares of The Kraft Heinz in a research note on Wednesday, June 28th. BidaskClub downgraded shares of The Kraft Heinz from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 5th. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $91.00 price target (down previously from $99.00) on shares of The Kraft Heinz in a research note on Monday, July 10th. Zacks Investment Research raised shares of The Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Finally, Credit Suisse Group set a $100.00 price target on shares of The Kraft Heinz and gave the company a “buy” rating in a research note on Saturday, July 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the company. The Kraft Heinz has a consensus rating of “Buy” and a consensus target price of $95.53.

Shares of The Kraft Heinz Company (NASDAQ:KHC) opened at 76.71 on Friday. The stock has a market cap of $93.45 billion, a P/E ratio of 24.59 and a beta of 0.44. The stock has a 50 day moving average of $79.15 and a 200 day moving average of $86.11. The Kraft Heinz Company has a 52 week low of $76.12 and a 52 week high of $97.77.

The Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.96 by $0.02. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The business had revenue of $6.68 billion for the quarter, compared to analyst estimates of $6.73 billion. During the same quarter in the previous year, the firm earned $0.85 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts expect that The Kraft Heinz Company will post $3.24 earnings per share for the current year.

The Kraft Heinz Company Profile

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.

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

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