Legal & General Group Plc acquired a new position in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) in the second quarter, HoldingsChannel.com reports. The fund acquired 6,037,735 shares of the company’s stock, valued at approximately $142,611,000.
Several other hedge funds also recently made changes to their positions in the company. Jessup Wealth Management Inc purchased a new position in Kraft Heinz during the fourth quarter worth about $27,000. Reflection Asset Management acquired a new position in shares of Kraft Heinz during the 4th quarter worth $28,000. DV Equities LLC acquired a new position in shares of Kraft Heinz during the 4th quarter worth $29,000. Cassaday & Co Wealth Management LLC purchased a new position in shares of Kraft Heinz in the 1st quarter valued at about $27,000. Finally, New England Capital Financial Advisors LLC increased its holdings in shares of Kraft Heinz by 70.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company’s stock valued at $30,000 after purchasing an additional 511 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently commented on KHC shares. Evercore set a $24.00 price objective on shares of Kraft Heinz in a report on Thursday, August 6th. TD Cowen increased their target price on shares of Kraft Heinz from $20.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, August 6th. UBS Group lifted their price target on shares of Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. Piper Sandler boosted their price target on Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, August 6th. Finally, JPMorgan Chase & Co. upped their price target on Kraft Heinz from $21.00 to $22.00 and gave the stock an “underweight” rating in a report on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Hold rating and five have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average target price of $23.62.
Insider Buying and Selling at Kraft Heinz
In other news, insider Diana Frost sold 18,502 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was 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 $2,366,474.35. The trade was a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.24% of the stock is currently owned by company insiders.
Kraft Heinz Stock Up 1.4%
KHC stock opened at $25.13 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.06 and a quick ratio of 0.68. The company’s 50 day simple moving average is $25.14 and its 200-day simple moving average is $23.91. Kraft Heinz Company has a 12 month low of $21.03 and a 12 month high of $28.09. The firm has a market capitalization of $29.80 billion, a PE ratio of -8.79 and a beta of 0.08.
Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.56 earnings per share (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 during the quarter, compared to the consensus estimate of $6.18 billion. During the same period in the previous year, the firm posted $0.69 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Equities analysts expect that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal year.
Kraft Heinz Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.60 annualized dividend and a yield of 6.4%. Kraft Heinz’s dividend payout ratio (DPR) is presently -55.94%.
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.
See Also
- Five stocks we like better than Kraft Heinz
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Company (NASDAQ:KHC – Free Report).
Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.
