Ascent Group LLC Boosts Stake in Kraft Heinz Company $KHC

Key Points

• Ascent Group LLC increased its stake in Kraft Heinz Company by 152.4% during the first quarter, now holding 18,622 shares worth approximately $567,000.
• Kraft Heinz reported $0.69 earnings per share for the last quarter, exceeding the consensus estimate, but its revenue fell 1.9% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, yielding 6.0%, with an annualized dividend of $1.60.

Ascent Group LLC raised its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 152.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,622 shares of the company's stock after purchasing an additional 11,243 shares during the quarter. Ascent Group LLC's holdings in Kraft Heinz were worth $567,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KHC. Rossby Financial LCC bought a new position in Kraft Heinz in the 1st quarter worth about $29,000. Wayfinding Financial LLC acquired a new stake in Kraft Heinz in the first quarter valued at approximately $33,000. Investment Management Corp VA ADV boosted its stake in Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock valued at $35,000 after acquiring an additional 669 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $38,000. Finally, Abound Wealth Management boosted its stake in Kraft Heinz by 1,157.0% in the first quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after acquiring an additional 1,157 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $26.65 on Thursday. Kraft Heinz Company has a 1 year low of $25.44 and a 1 year high of $36.31. The company's 50 day simple moving average is $27.48 and its 200-day simple moving average is $28.15. The company has a market capitalization of $31.54 billion, a price-to-earnings ratio of -5.94, a price-to-earnings-growth ratio of 3.11 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz's dividend payout ratio is presently -35.63%.

Insiders Place Their Bets

In related news, Director Elio Leoni Sceti sold 25,000 shares of the company's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the sale, the director directly owned 40,000 shares of the company's stock, valued at $1,116,400. This represents a 38.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.35% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KHC. The Goldman Sachs Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and raised their price target for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. UBS Group set a $28.00 price target on shares of Kraft Heinz and gave the company a "neutral" rating in a research report on Thursday, September 4th. Stifel Nicolaus dropped their price target 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, September 3rd. Morgan Stanley set a $29.00 target price on shares of Kraft Heinz and gave the company an "equal weight" rating in a research report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Kraft Heinz in a research report on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 target price on the stock. Seventeen investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of "Reduce" and a consensus target price of $29.76.

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.

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