Pallas Capital Advisors LLC Buys New Stake in Kraft Heinz Company $KHC

Pallas Capital Advisors LLC purchased a new position in shares of Kraft Heinz Company (NASDAQ:KHC) in the second quarter, HoldingsChannel reports. The institutional investor purchased 23,689 shares of the company’s stock, valued at approximately $560,000.

Several other hedge funds also recently added to or reduced their stakes in KHC. Cassaday & Co Wealth Management LLC acquired a new position in shares of Kraft Heinz during the first quarter worth about $27,000. Jessup Wealth Management Inc acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at about $27,000. Reflection Asset Management acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at about $28,000. DV Equities LLC purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at about $29,000. Finally, New England Capital Financial Advisors LLC lifted its position in Kraft Heinz by 70.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company’s stock worth $30,000 after acquiring an additional 511 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Performance

KHC stock opened at $25.68 on Thursday. 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 cap of $30.45 billion, a P/E ratio of -8.98 and a beta of 0.08. Kraft Heinz Company has a 12-month low of $21.03 and a 12-month high of $28.10. The stock’s 50 day simple moving average is $24.94 and its 200 day simple moving average is $23.86.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The firm’s revenue was down 1.4% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. As a group, equities research analysts predict that Kraft Heinz Company will post 2.06 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Friday, September 4th. Kraft Heinz’s dividend payout ratio (DPR) is presently -55.94%.

Insider Activity at Kraft Heinz

In other news, insider Diana Frost sold 18,502 shares of Kraft Heinz stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $23.05, for a total value of $426,471.10. Following the completion of the transaction, the insider directly owned 102,667 shares of the company’s stock, valued at approximately $2,366,474.35. The trade was a 15.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KHC. Wall Street Zen cut Kraft Heinz from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $23.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 8th. Sanford C. Bernstein lowered shares of Kraft Heinz from a “market perform” rating to an “underperform” rating and lowered their price target for the company from $25.00 to $21.00 in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their price target on shares of Kraft Heinz from $21.00 to $22.00 and gave the stock an “underweight” rating in a research note on Wednesday, July 15th. Finally, BNP Paribas Exane boosted their price objective on shares of Kraft Heinz from $17.00 to $19.00 and gave the stock an “underperform” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $23.62.

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.