Midwest Investment Management Lowers stake in Kraft Heinz Co (KHC)

Kraft Heinz Co (KHC) : Midwest Investment Management reduced its stake in Kraft Heinz Co by 0.34% during the most recent quarter end. The investment management company now holds a total of 56,943 shares of Kraft Heinz Co which is valued at $5,092,982 after selling 195 shares in Kraft Heinz Co , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Kraft Heinz Co makes up approximately 4.02% of Midwest Investment Management’s portfolio.

Other Hedge Funds, Including , Chicago Partners Investment Group reduced its stake in KHC by selling 556 shares or 15.94% in the most recent quarter. The Hedge Fund company now holds 2,932 shares of KHC which is valued at $262,238. Kraft Heinz Co makes up approx 0.12% of Chicago Partners Investment Group’s portfolio.Davidson Garrard Inc boosted its stake in KHC in the latest quarter, The investment management firm added 2,075 additional shares and now holds a total of 11,506 shares of Kraft Heinz Co which is valued at $1,021,618. Kraft Heinz Co makes up approx 0.24% of Davidson Garrard Inc’s portfolio.Exane Derivatives boosted its stake in KHC in the latest quarter, The investment management firm added 491 additional shares and now holds a total of 9,549 shares of Kraft Heinz Co which is valued at $810,710. Kraft Heinz Co makes up approx 0.13% of Exane Derivatives’s portfolio.

Kraft Heinz Co opened for trading at $89.05 and hit $89.47 on the upside on Wednesday, eventually ending the session at $89.41, with a gain of 0.51% or 0.45 points. The heightened volatility saw the trading volume jump to 18,32,898 shares. Company has a market cap of $108,870 M.

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.

Investors should note that on Aug 4, 2016, Kraft Heinz Co announced a cash dividend of $0.6000. The company’s management has announced Aug 24, 2016 as the ex-dividend date and fixed the record date on Aug 26, 2016. The payable date has been fixed on Oct 7, 2016.

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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