Inverness Counsel Ny buys $35.1 Million stake in Kraft Heinz Co (KHC)

Kraft Heinz Co (KHC) : Inverness Counsel Ny scooped up 1,730 additional shares in Kraft Heinz Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 11, 2016. The investment management firm now holds a total of 411,984 shares of Kraft Heinz Co which is valued at $35.1 Million.Kraft Heinz Co makes up approximately 2.77% of Inverness Counsel Ny’s portfolio.

Other Hedge Funds, Including , Lee Danner Bass Inc boosted its stake in KHC in the latest quarter, The investment management firm added 1,412 additional shares and now holds a total of 57,102 shares of Kraft Heinz Co which is valued at $4.5 Million. Kraft Heinz Co makes up approx 0.56% of Lee Danner Bass Inc’s portfolio.Parsons Capital Management Incri boosted its stake in KHC in the latest quarter, The investment management firm added 550 additional shares and now holds a total of 20,715 shares of Kraft Heinz Co which is valued at $1.6 Million. Kraft Heinz Co makes up approx 0.22% of Parsons Capital Management Incri’s portfolio.

Kraft Heinz Co opened for trading at $85.33 and hit $86.24 on the upside on Monday, eventually ending the session at $85.87, with a gain of 0.87% or 0.74 points. The heightened volatility saw the trading volume jump to 20,61,887 shares. Company has a market cap of $104,414 M.

On the company’s financial health, Kraft Heinz Co reported $0.73 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.61. The company had revenue of $6570.00 million for the quarter, compared to analysts expectations of $6463.10 million. The company’s revenue was down -3.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Investors should note that on May 4, 2016, Kraft Heinz Co announced a cash dividend of $0.5750. The company’s management has announced May 25, 2016 as the ex-dividend date and fixed the record date on May 27, 2016. The payable date has been fixed on Jul 8, 2016.

Many Wall Street Analysts have commented on Kraft Heinz Co. Company shares were Reiterated by Stifel on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 90 from a previous price target of $85 .Company shares were Reiterated by RBC Capital Mkts on May 5, 2016 to “Outperform”, Firm has raised the Price Target to $ 92 from a previous price target of $88 .Company shares were Reiterated by UBS on May 5, 2016 to “Buy”, Firm has raised the Price Target to $ 92 from a previous price target of $87 .

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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