Manning & Napier Advisors LLC Sells 150,192 Shares of Kraft Heinz Company $KHC

Manning & Napier Advisors LLC cut its holdings in Kraft Heinz Company (NASDAQ:KHC) by 47.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 168,802 shares of the company’s stock after selling 150,192 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Kraft Heinz were worth $4,396,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Ashton Thomas Private Wealth LLC bought a new stake in shares of Kraft Heinz during the first quarter worth $207,000. Woodline Partners LP lifted its position in Kraft Heinz by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock valued at $2,243,000 after acquiring an additional 20,690 shares in the last quarter. Parallel Advisors LLC boosted its stake in Kraft Heinz by 27.5% in the 2nd quarter. Parallel Advisors LLC now owns 13,947 shares of the company’s stock worth $360,000 after purchasing an additional 3,009 shares during the period. Czech National Bank increased its holdings in Kraft Heinz by 5.4% during the 2nd quarter. Czech National Bank now owns 211,188 shares of the company’s stock worth $5,453,000 after purchasing an additional 10,825 shares in the last quarter. Finally, Krilogy Financial LLC acquired a new stake in shares of Kraft Heinz in the 2nd quarter valued at about $267,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the sale, the insider owned 686,817 shares in the company, valued at $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $24.32 on Thursday. The stock has a market capitalization of $28.79 billion, a PE ratio of -6.52 and a beta of 0.09. Kraft Heinz Company has a 1-year low of $22.91 and a 1-year high of $33.35. The firm has a fifty day simple moving average of $24.45 and a 200 day simple moving average of $25.86. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The firm had revenue of $6.24 billion during the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter last year, the company posted $0.75 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. Kraft Heinz has set its FY 2025 guidance at 2.500-2.57 EPS. On average, research analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Investors of record on Friday, November 28th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a yield of 6.6%. Kraft Heinz’s dividend payout ratio (DPR) is presently -42.90%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday, October 30th. Mizuho decreased their price target on shares of Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, October 28th. Evercore ISI lowered their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating on the stock in a report on Thursday, October 30th. Sanford C. Bernstein reduced their target price on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating for the company in a report on Tuesday, October 28th. Finally, Barclays decreased their target price on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $26.58.

Kraft Heinz Company 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.