Summit Asset Management adds Kraft Heinz Co (KHC) to its portfolio

Kraft Heinz Co (KHC) : Summit Asset Management added new position in Kraft Heinz Co during the most recent quarter end. The investment management firm now holds 2,272 shares of Kraft Heinz Co which is valued at $203,208 , the company said in a statement filed on Aug 8, 2016 with the SEC.Kraft Heinz Co makes up approximately 0.09% of Summit Asset Management’s portfolio.

Other Hedge Funds, Including , Ntv Asset Management reduced its stake in KHC by selling 7,929 shares or 33.39% in the most recent quarter. The Hedge Fund company now holds 15,817 shares of KHC which is valued at $1,414,672. Kraft Heinz Co makes up approx 0.52% of Ntv Asset Management’s portfolio. Lsv Asset Management added KHC to its portfolio by purchasing 3,300 company shares during the most recent quarter which is valued at $293,007.Smithfield Trust Co reduced its stake in KHC by selling 866 shares or 68.89% in the most recent quarter. The Hedge Fund company now holds 391 shares of KHC which is valued at $33,778. Kraft Heinz Co makes up approx 0.01% of Smithfield Trust Co’s portfolio.Tokio Marine Asset Management Co Ltd boosted its stake in KHC in the latest quarter, The investment management firm added 505 additional shares and now holds a total of 19,669 shares of Kraft Heinz Co which is valued at $1,684,256. Kraft Heinz Co makes up approx 0.17% of Tokio Marine Asset Management Co Ltd’s portfolio.

Kraft Heinz Co closed down -0.48 points or -0.54% at $89.08 with 16,61,022 shares getting traded on Monday. Post opening the session at $89.71, the shares hit an intraday low of $88.85 and an intraday high of $89.89 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Kraft Heinz Co reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.71. The company had revenue of $6793.00 million for the quarter, compared to analysts expectations of $6790.09 million. The company’s revenue was up 159.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.92 EPS.

Many Wall Street Analysts have commented on Kraft Heinz Co. Company shares were Upgraded by Deutsche Bank on Aug 5, 2016 to ” Buy”, Firm has raised the Price Target to $ 103 from a previous price target of $85 .Company shares were Reiterated by RBC Capital Mkts on Aug 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 96 from a previous price target of $92 .

The Kraft Heinz Company formerly H.J. Heinz Holding Corporation is a food and beverage company. The Company provides taste and nutrition foods for all eating occasions. The Company’s brands include Kraft Heinz ABC Capri Sun Classico Jell-O Kool-Aid Lunchables Maxwell House Ore-Ida Oscar Mayer Philadelphia Planters Plasmon Quero Weight Watchers Smart Ones and Velveeta.

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