Cooke & Bieler LP reduced its stake in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) by 40.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,197,947 shares of the company’s stock after selling 1,510,135 shares during the quarter. Cooke & Bieler LP’s holdings in Kraft Heinz were worth $49,937,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alyeska Investment Group L.P. purchased a new stake in shares of Kraft Heinz in the 2nd quarter valued at about $1,968,000. OMERS ADMINISTRATION Corp purchased a new position in Kraft Heinz during the 2nd quarter worth approximately $1,076,000. Gradient Investments LLC grew its stake in Kraft Heinz by 11.8% during the 3rd quarter. Gradient Investments LLC now owns 667,877 shares of the company’s stock worth $15,174,000 after buying an additional 70,534 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in Kraft Heinz by 11.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 561,627 shares of the company’s stock worth $13,266,000 after buying an additional 57,092 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC increased its position in Kraft Heinz by 70.2% during the second quarter. Franklin Street Advisors Inc. NC now owns 994,375 shares of the company’s stock worth $23,487,000 after buying an additional 410,029 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.
Kraft Heinz Stock Performance
NASDAQ KHC opened at $23.50 on Thursday. The firm has a market cap of $27.86 billion, a P/E ratio of -8.22, a P/E/G ratio of 2.99 and a beta of 0.12. Kraft Heinz Company has a 52-week low of $21.03 and a 52-week high of $28.09. The business’s 50-day moving average price is $24.15 and its 200 day moving average price is $24.02. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.18 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%. The firm’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.69 EPS. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. On average, equities research analysts expect that Kraft Heinz Company will post 2.06 earnings per share for the current year.
Kraft Heinz Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 4th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.8%. The ex-dividend date was Friday, September 4th. Kraft Heinz’s dividend payout ratio (DPR) is -55.94%.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on KHC. Wells Fargo & Company reduced their price objective on Kraft Heinz from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Monday, October 5th. Jefferies Financial Group restated a “hold” rating and set a $21.00 target price on shares of Kraft Heinz in a research report on Wednesday, October 14th. Weiss Ratings cut shares of Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Piper Sandler upped their price target on shares of Kraft Heinz from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Finally, Evercore set a $24.00 price target on shares of Kraft Heinz in a research report on Thursday, August 6th. One research analyst has rated the stock with a Buy rating, eleven have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Reduce” and a consensus target price of $23.81.
Check Out Our Latest Research Report on KHC
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 and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and desserts.
The company’s brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Jell-O, Maxwell House, Lunchables, Capri Sun, Planters and Classico, among others. Products are sold through grocery stores, mass merchants, club stores, convenience retailers, e-commerce channels and foodservice distributors.
Kraft Heinz was created in 2015 through the merger of Kraft Foods Group and H.J.
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