Avior Wealth Management LLC Purchases 33,641 Shares of Kraft Heinz Company $KHC

Key Points

• Avior Wealth Management LLC significantly increased its stake in Kraft Heinz Company by 12,413.7%, now holding 33,912 shares valued at approximately $876,000.
• Kraft Heinz recently reported a quarterly earnings per share of $0.69, surpassing analysts' estimates, but showed a 1.9% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.40 per share, representing a yield of 6.2%, with a negative dividend payout ratio of -35.63%.

Avior Wealth Management LLC increased its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 12,413.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,912 shares of the company's stock after buying an additional 33,641 shares during the period. Avior Wealth Management LLC's holdings in Kraft Heinz were worth $876,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Swedbank AB raised its stake in Kraft Heinz by 13.6% during the first quarter. Swedbank AB now owns 878,684 shares of the company's stock worth $26,738,000 after buying an additional 104,872 shares during the last quarter. Bard Financial Services Inc. increased its stake in Kraft Heinz by 24.5% in the second quarter. Bard Financial Services Inc. now owns 104,225 shares of the company's stock valued at $2,691,000 after purchasing an additional 20,500 shares in the last quarter. D.A. Davidson & CO. increased its stake in 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 purchasing an additional 6,551 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Kraft Heinz by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock valued at $248,665,000 after purchasing an additional 103,548 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Kraft Heinz by 28.1% in the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock valued at $481,000 after purchasing an additional 3,468 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

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 owned 40,000 shares of the company's stock, valued at approximately $1,116,400. This represents a 38.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

KHC has been the subject of several research analyst reports. The Goldman Sachs Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and lifted their price target for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Morgan Stanley set a $29.00 price target on shares of Kraft Heinz and gave the company an "equal weight" rating in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. initiated coverage on shares of Kraft Heinz in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 price target for the company. Stifel Nicolaus reduced their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, September 3rd. Finally, DZ Bank upgraded shares of Kraft Heinz from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $29.76.

Kraft Heinz Stock Down 1.3%

Kraft Heinz stock opened at $25.70 on Tuesday. Kraft Heinz Company has a fifty-two week low of $25.35 and a fifty-two week high of $36.31. The stock has a market cap of $30.42 billion, a PE ratio of -5.72, a price-to-earnings-growth ratio of 3.04 and a beta of 0.23. The firm's 50-day simple moving average is $27.24 and its 200 day simple moving average is $27.66. 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 released its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. The firm had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.78 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. Research analysts predict that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend was Friday, August 29th. Kraft Heinz's dividend payout ratio is -35.63%.

About Kraft Heinz

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.