Lynch Associatesin Lowers stake in Kraft Heinz Co (KHC)

Kraft Heinz Co (KHC) : Lynch Associatesin reduced its stake in Kraft Heinz Co by 16.06% during the most recent quarter end. The investment management company now holds a total of 11,035 shares of Kraft Heinz Co which is valued at $964,238 after selling 2,111 shares in Kraft Heinz Co , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Kraft Heinz Co makes up approximately 0.43% of Lynch Associatesin’s portfolio.

Other Hedge Funds, Including , Eqis Capital Management boosted its stake in KHC in the latest quarter, The investment management firm added 1,109 additional shares and now holds a total of 7,519 shares of Kraft Heinz Co which is valued at $657,010. Kraft Heinz Co makes up approx 0.04% of Eqis Capital Management’s portfolio. Harbour Capital Advisors sold out all of its stake in KHC during the most recent quarter. The investment firm sold 5,800 shares of KHC which is valued $506,804.

Kraft Heinz Co closed down -1.06 points or -1.19% at $88.02 with 19,40,530 shares getting traded on Tuesday. Post opening the session at $89.29, the shares hit an intraday low of $87.69 and an intraday high of $89.29 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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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