NewEdge Advisors LLC increased its position in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) by 48.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 183,840 shares of the company’s stock after buying an additional 59,918 shares during the quarter. NewEdge Advisors LLC’s holdings in Kraft Heinz were worth $4,342,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of KHC. IFP Advisors Inc raised its stake in shares of Kraft Heinz by 64.3% during the 2nd quarter. IFP Advisors Inc now owns 10,251 shares of the company’s stock worth $242,000 after buying an additional 4,012 shares during the period. Baird Financial Group Inc. increased its holdings in Kraft Heinz by 36.4% in the 2nd quarter. Baird Financial Group Inc. now owns 208,726 shares of the company’s stock worth $4,930,000 after acquiring an additional 55,746 shares in the last quarter. Allworth Financial LP raised its position in Kraft Heinz by 1.4% during the second quarter. Allworth Financial LP now owns 50,283 shares of the company’s stock worth $1,188,000 after acquiring an additional 707 shares during the period. Arizona State Retirement System lifted its holdings in Kraft Heinz by 2.0% during the second quarter. Arizona State Retirement System now owns 246,060 shares of the company’s stock valued at $5,812,000 after purchasing an additional 4,841 shares in the last quarter. Finally, Waverly Advisors LLC raised its position in shares of Kraft Heinz by 3.9% during the 2nd quarter. Waverly Advisors LLC now owns 11,438 shares of the company’s stock worth $270,000 after purchasing an additional 433 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Sanford C. Bernstein downgraded Kraft Heinz from a “market perform” rating to an “underperform” rating and cut their price objective for the stock from $25.00 to $21.00 in a research report on Wednesday, June 3rd. Weiss Ratings cut shares of Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. Evercore set a $24.00 price objective on Kraft Heinz in a report on Thursday, August 6th. JPMorgan Chase & Co. lifted their target price on Kraft Heinz from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, July 15th. Finally, BNP Paribas Exane upped their price target on Kraft Heinz from $17.00 to $19.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Reduce” and an average target price of $23.33.
Insiders Place Their Bets
In other Kraft Heinz news, insider Diana Frost sold 18,502 shares of the business’s stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $23.05, for a total value of $426,471.10. Following the transaction, the insider owned 102,667 shares in the company, valued at $2,366,474.35. The trade was a 15.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.24% of the company’s stock.
Kraft Heinz Stock Down 1.2%
Shares of Kraft Heinz stock opened at $24.30 on Tuesday. Kraft Heinz Company has a twelve month low of $21.03 and a twelve month high of $28.09. The stock has a market cap of $28.81 billion, a price-to-earnings ratio of -8.49, a price-to-earnings-growth ratio of 2.99 and a beta of 0.09. 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 company has a fifty day moving average price of $25.45 and a 200 day moving average price of $23.97.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%.The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the previous year, the company posted $0.69 EPS. Kraft Heinz’s revenue for the quarter was down 1.4% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Equities research analysts forecast that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal year.
Kraft Heinz Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Friday, September 4th. Kraft Heinz’s dividend payout ratio (DPR) is presently -55.94%.
About Kraft Heinz
The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company that develops, manufactures and markets branded products for consumers, retailers, foodservice operators and other customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, beverages, snacks and other packaged foods.
The company’s well-known brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Lunchables, Capri Sun, Jell-O, Maxwell House and Classico, among others.
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