Royal London Asset Management Ltd. trimmed its position in Kraft Heinz Company (NASDAQ:KHC – Free Report) by 5.5% during the second quarter, Holdings Channel.com reports. The firm owned 466,328 shares of the company’s stock after selling 26,953 shares during the period. Royal London Asset Management Ltd.’s holdings in Kraft Heinz were worth $11,015,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Jessup Wealth Management Inc purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $27,000. Reflection Asset Management acquired a new position in Kraft Heinz in the 4th quarter valued at $28,000. DV Equities LLC purchased a new position in shares of Kraft Heinz during the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Kraft Heinz during the first quarter worth $27,000. Finally, Hara Capital LLC purchased a new stake in shares of Kraft Heinz in the second quarter valued at $29,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity
In related news, insider Diana Frost sold 18,502 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $23.05, for a total transaction of $426,471.10. Following the sale, the insider directly owned 102,667 shares in the company, valued at approximately $2,366,474.35. This trade represents a 15.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.24% of the company’s stock.
Kraft Heinz Trading Down 0.2%
Kraft Heinz (NASDAQ:KHC – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.03. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.18 billion. During the same quarter in the prior year, the business earned $0.69 earnings per share. The business’s quarterly revenue was down 1.4% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. On average, analysts anticipate that Kraft Heinz Company will post 2.06 EPS for the current year.
Kraft Heinz Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.60 annualized dividend and a dividend yield of 6.2%. Kraft Heinz’s dividend payout ratio is presently -55.94%.
Analysts Set New Price Targets
Several equities analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their target price on Kraft Heinz from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Evercore set a $24.00 target price on shares of Kraft Heinz in a research report on Thursday, August 6th. Piper Sandler increased their price target on shares of Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. UBS Group lifted their price target on shares of Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Finally, Wall Street Zen lowered Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the company. According to MarketBeat.com, Kraft Heinz presently has a consensus rating of “Reduce” and an average price target of $23.62.
Get Our Latest Research Report on Kraft Heinz
Kraft Heinz Profile
The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.
Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.
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