Birinyi Associates Inc buys $2,104,660 stake in Kraft Heinz Co (KHC)

Kraft Heinz Co (KHC) : Birinyi Associates Inc scooped up 9,250 additional shares in Kraft Heinz Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 23,500 shares of Kraft Heinz Co which is valued at $2,104,660.Kraft Heinz Co makes up approximately 0.87% of Birinyi Associates Inc’s portfolio.

Other Hedge Funds, Including , Spears Abacus Advisors sold out all of its stake in KHC during the most recent quarter. The investment firm sold 19,838 shares of KHC which is valued $1,776,691.Eaton Vance Management reduced its stake in KHC by selling 4,124 shares or 2.55% in the most recent quarter. The Hedge Fund company now holds 157,754 shares of KHC which is valued at $14,109,518. Kraft Heinz Co makes up approx 0.04% of Eaton Vance Management’s portfolio. Moisand Fitzgerald Tamayo sold out all of its stake in KHC during the most recent quarter. The investment firm sold 23 shares of KHC which is valued $1,953.Grandfield Dodd reduced its stake in KHC by selling 500 shares or 2.45% in the most recent quarter. The Hedge Fund company now holds 19,886 shares of KHC which is valued at $1,717,952. Kraft Heinz Co makes up approx 0.23% of Grandfield Dodd’s portfolio.Regent Investment Management reduced its stake in KHC by selling 1,145 shares or 5.21% in the most recent quarter. The Hedge Fund company now holds 20,829 shares of KHC which is valued at $1,855,864. Kraft Heinz Co makes up approx 0.97% of Regent Investment Management’s portfolio.

Kraft Heinz Co opened for trading at $89.6 and hit $90.2 on the upside on Friday, eventually ending the session at $89.92, with a gain of 0.18% or 0.16 points. The heightened volatility saw the trading volume jump to 16,94,926 shares. Company has a market cap of $109,491 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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