Kraft Heinz Company $KHC Shares Sold by Adage Capital Partners GP L.L.C.

Key Points

• Adage Capital Partners GP L.L.C. has reduced its stake in Kraft Heinz by selling 28,600 shares, leaving them with a total of 796,132 shares, valued at approximately $24.2 million.
• Kraft Heinz announced a quarterly dividend of $0.40 per share with a dividend yield of 5.9%, to be paid on September 26th.
• Recent analyst reports show mixed ratings, with a consensus target price of $29.76, highlighting a generally cautious outlook for Kraft Heinz.

Adage Capital Partners GP L.L.C. trimmed its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 3.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 796,132 shares of the company's stock after selling 28,600 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.07% of Kraft Heinz worth $24,226,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of KHC. Versant Capital Management Inc increased its position in Kraft Heinz by 493.4% during the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock worth $376,000 after buying an additional 10,272 shares during the period. D.A. Davidson & CO. raised its holdings in shares of Kraft Heinz by 7.8% in the first quarter. D.A. Davidson & CO. now owns 90,252 shares of the company's stock valued at $2,746,000 after buying an additional 6,551 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Kraft Heinz by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock worth $248,665,000 after buying an additional 103,548 shares during the period. GAMMA Investing LLC grew its holdings in shares of Kraft Heinz by 28.1% during the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock worth $481,000 after buying an additional 3,468 shares during the last quarter. Finally, Farther Finance Advisors LLC increased its holdings in shares of Kraft Heinz by 58.3% in the first quarter. Farther Finance Advisors LLC now owns 22,111 shares of the company's stock valued at $671,000 after purchasing an additional 8,144 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on KHC shares. The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and increased their price target for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. initiated coverage on Kraft Heinz in a research note on Wednesday, August 20th. They set a "neutral" rating and a $27.00 target price for the company. Morgan Stanley set a $29.00 price objective on shares of Kraft Heinz and gave the company an "equal weight" rating in a research note on Wednesday. Stifel Nicolaus lowered their target price on shares of Kraft Heinz from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday. Finally, UBS Group set a $28.00 target price on shares of Kraft Heinz and gave the company a "neutral" rating in a report on Thursday. Seventeen research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $29.76.

Insiders Place Their Bets

In related news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction on Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the transaction, the director owned 40,000 shares in the company, valued at approximately $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company's stock.

Kraft Heinz Trading Up 1.2%

Shares of KHC stock traded up $0.33 during mid-day trading on Friday, hitting $27.29. 14,753,200 shares of the company's stock were exchanged, compared to its average volume of 13,326,064. The stock has a market cap of $32.30 billion, a price-to-earnings ratio of 9.41, a PEG ratio of 3.18 and a beta of 0.23. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. Kraft Heinz Company has a fifty-two week low of $25.44 and a fifty-two week high of $36.31. The stock has a 50-day simple moving average of $27.46 and a two-hundred day simple moving average of $28.21.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. Kraft Heinz's revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. Equities analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.9%. Kraft Heinz's dividend payout ratio (DPR) is presently -35.63%.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.