1,510,135 Kraft Heinz Company $KHC Shares Sold by Cooke & Bieler LP

Key Points

• Cooke & Bieler LP reduced its Kraft Heinz stake by 40.7%, selling 1.51 million shares in the third quarter and retaining 2.20 million shares valued at approximately $49.9 million.
• Analyst sentiment remains cautious: Kraft Heinz has an average MarketBeat rating of “Reduce”, with one Buy, eleven Holds and five Sells, and a consensus price target of $23.81.
• Kraft Heinz reported quarterly EPS of $0.56, beating estimates, while revenue reached $6.26 billion but declined 1.4% year over year. The company also paid a quarterly dividend of $0.40 per share, implying a 6.8% annualized yield.

Cooke & Bieler LP cut its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 40.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 owned 0.19% of Kraft Heinz worth $49,937,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Kraft Heinz during the second quarter worth $1,803,911,000. Pacer Advisors Inc. raised its stake in shares of Kraft Heinz by 7.3% in the first quarter. Pacer Advisors Inc. now owns 9,270,503 shares of the company's stock valued at $208,494,000 after acquiring an additional 633,645 shares in the last quarter. Nykredit A S purchased a new position in Kraft Heinz in the second quarter valued at $181,408,000. Deutsche Bank AG purchased a new position in Kraft Heinz in the second quarter valued at $179,876,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Kraft Heinz by 1.9% in the first quarter. Dimensional Fund Advisors LP now owns 7,944,618 shares of the company's stock valued at $178,663,000 after purchasing an additional 149,034 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on KHC shares. TD Cowen reissued a "hold" rating and set a $22.00 target price on shares of Kraft Heinz in a research note on Tuesday, September 22nd. UBS Group reaffirmed a "neutral" rating on shares of Kraft Heinz in a research report on Thursday, October 15th. Weiss Ratings cut Kraft Heinz from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Barclays decreased their price objective on Kraft Heinz from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Friday, October 16th. Finally, Wall Street Zen downgraded Kraft Heinz from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. One 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, Kraft Heinz presently has an average rating of "Reduce" and a consensus price target of $23.81.

Kraft Heinz Price Performance

Shares of KHC opened at $23.50 on Thursday. The firm has a market capitalization of $27.86 billion, a price-to-earnings ratio of -8.22, a PEG ratio of 2.99 and a beta of 0.12. The firm's fifty day simple moving average is $24.15 and its 200-day simple moving average is $24.02. Kraft Heinz Company has a twelve month low of $21.03 and a twelve month high of $28.09. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates 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 negative net margin of 13.64% and a positive return on equity of 7.10%. The company's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.69 earnings per share. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Equities analysts forecast that Kraft Heinz Company will post 2.06 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, September 4th. Kraft Heinz's dividend payout ratio is currently -55.94%.

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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