Sharp Financial Services LLC Grows Position in Kraft Heinz Company $KHC

Sharp Financial Services LLC lifted its stake in Kraft Heinz Company (NASDAQ:KHC) by 288.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,325 shares of the company’s stock after acquiring an additional 26,225 shares during the quarter. Sharp Financial Services LLC’s holdings in Kraft Heinz were worth $920,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Shell Asset Management Co. boosted its holdings in Kraft Heinz by 89.7% in the second quarter. Shell Asset Management Co. now owns 90,450 shares of the company’s stock valued at $2,335,000 after purchasing an additional 42,758 shares in the last quarter. Generali Asset Management SPA SGR boosted its holdings in shares of Kraft Heinz by 192.4% in the 3rd quarter. Generali Asset Management SPA SGR now owns 81,260 shares of the company’s stock valued at $2,116,000 after buying an additional 53,467 shares in the last quarter. Fairfax Financial Holdings Ltd. Can grew its position in shares of Kraft Heinz by 45.4% in the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock valued at $126,056,000 after buying an additional 1,525,000 shares during the last quarter. Lakeshore Capital Group Inc. lifted its position in Kraft Heinz by 39.8% in the second quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company’s stock valued at $957,000 after acquiring an additional 10,551 shares during the last quarter. Finally, First Horizon Corp purchased a new position in shares of Kraft Heinz during the third quarter worth about $4,678,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the sale, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. The trade was 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 owned by company insiders.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $24.32 on Thursday. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The stock has a 50 day simple moving average of $24.45 and a 200-day simple moving average of $25.86. The company has a market cap of $28.79 billion, a price-to-earnings ratio of -6.52 and a beta of 0.09. Kraft Heinz Company has a 12-month low of $22.91 and a 12-month high of $33.35.

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

Kraft Heinz Cuts Dividend

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

Analyst Ratings Changes

Several research firms have commented on KHC. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research report on Wednesday, October 8th. Zacks Research upgraded shares of Kraft Heinz from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Piper Sandler boosted their price target on Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Monday, December 15th. HSBC reduced their price objective on Kraft Heinz from $29.00 to $27.00 in a research note on Thursday, October 30th. Finally, Mizuho lowered their target price on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 28th. 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $26.58.

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.