Saudi Central Bank raised its holdings in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) by 83.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,074 shares of the company’s stock after purchasing an additional 27,306 shares during the quarter. Saudi Central Bank’s holdings in Kraft Heinz were worth $1,419,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Cassaday & Co Wealth Management LLC bought a new position in shares of Kraft Heinz in the 1st quarter valued at about $27,000. Jessup Wealth Management Inc bought a new stake in Kraft Heinz during the fourth quarter worth approximately $27,000. Reflection Asset Management bought a new stake in Kraft Heinz during the fourth quarter worth approximately $28,000. Hara Capital LLC purchased a new stake in Kraft Heinz during the second quarter valued at approximately $29,000. Finally, DV Equities LLC bought a new stake in shares of Kraft Heinz in the 4th quarter valued at approximately $29,000. 78.17% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently commented on KHC shares. Weiss Ratings cut Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. UBS Group raised their price target on Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Wall Street Zen lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Wells Fargo & Company boosted their price objective on shares of Kraft Heinz from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Finally, BNP Paribas Exane increased their target price on shares of Kraft Heinz from $17.00 to $19.00 and gave the company an “underperform” rating in a research note on Tuesday, June 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $23.33.
Kraft Heinz Stock Up 0.2%
Shares of KHC opened at $24.90 on Wednesday. The firm has a fifty day moving average price of $25.50 and a 200-day moving average price of $23.97. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $29.53 billion, a P/E ratio of -8.71, a P/E/G ratio of 3.02 and a beta of 0.09. Kraft Heinz Company has a 12-month low of $21.03 and a 12-month high of $28.09.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.18 billion. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same quarter last year, the business posted $0.69 EPS. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Equities research analysts expect that Kraft Heinz Company will post 2.06 earnings per share for the current year.
Kraft Heinz Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.60 annualized dividend and a yield of 6.4%. Kraft Heinz’s dividend payout ratio is -55.94%.
Insider Buying and Selling
In other Kraft Heinz news, insider Diana Frost sold 18,502 shares of Kraft Heinz stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $23.05, for a total transaction of $426,471.10. Following the completion of the sale, the insider directly owned 102,667 shares of the company’s stock, valued at $2,366,474.35. The trade was a 15.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.24% of the stock is owned by insiders.
About Kraft Heinz
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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