Bank of New York Mellon Corp Purchases 1,167,964 Shares of Kraft Heinz Company $KHC

Key Points

• Bank of New York Mellon boosted its Kraft Heinz stake by 15.3% in the fourth quarter, buying 1,167,964 additional shares and bringing its total holding to 8.8 million shares worth about $213.5 million.
• Kraft Heinz beat earnings expectations in its latest quarterly report, posting EPS of $0.58 versus estimates of $0.50 and revenue of $6.05 billion versus $5.89 billion expected.
• The company also announced a quarterly dividend of $0.40 per share, equal to an annualized yield of about 7.1%, while analyst sentiment remains mixed with an overall average rating of “Reduce” and price target of $22.69.

Bank of New York Mellon Corp raised its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,802,220 shares of the company's stock after purchasing an additional 1,167,964 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.74% of Kraft Heinz worth $213,454,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Key Capital Management INC acquired a new stake in Kraft Heinz during the 4th quarter worth approximately $29,000. New England Capital Financial Advisors LLC lifted its holdings in Kraft Heinz by 70.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company's stock worth $30,000 after purchasing an additional 511 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company's stock worth $32,000 after purchasing an additional 788 shares during the last quarter. Anfield Capital Management LLC lifted its holdings in Kraft Heinz by 256.7% during the 3rd quarter. Anfield Capital Management LLC now owns 1,270 shares of the company's stock worth $33,000 after purchasing an additional 914 shares during the last quarter. Finally, Sentry Investment Management LLC acquired a new stake in Kraft Heinz during the 3rd quarter worth approximately $38,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Trading Up 0.5%

NASDAQ KHC opened at $22.58 on Friday. The business's 50-day moving average price is $22.91 and its two-hundred day moving average price is $23.63. Kraft Heinz Company has a 12 month low of $21.03 and a 12 month high of $29.19. The firm has a market capitalization of $26.77 billion, a PE ratio of -4.65 and a beta of 0.08. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.08. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 23.05%.The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same quarter in the previous year, the company posted $0.62 EPS. The business's revenue was up .8% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, analysts expect that Kraft Heinz Company will post 2.07 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 7.1%. Kraft Heinz's dividend payout ratio is presently -32.92%.

Key Kraft Heinz News

Here are the key news stories impacting Kraft Heinz this week:

• Positive Sentiment: Jim Cramer said he has “faith” in Kraft Heinz CEO Steve, which may help improve sentiment by signaling confidence in management and the company’s turnaround prospects. Jim Cramer on Kraft Heinz CEO: “I Have Faith in Steve”
• Positive Sentiment: Unusual call-option activity suggests some traders are positioning for a rebound, which can sometimes signal renewed speculative interest in the shares. Unusual trading in Kraft Heinz call options after CEO interview - Is KHC stock a buy?
• Neutral Sentiment: The company’s recent earnings were generally solid, with Kraft Heinz beating EPS and revenue estimates last month, but the stock has still struggled to hold momentum afterward. Kraft Heinz stock/earnings overview
• Negative Sentiment: Bernstein downgraded Kraft Heinz to Underperform/Sell and lowered its price target, reinforcing worries that the shares could have more downside ahead. Kraft Heinz was downgraded to a Sell Rating at Bernstein
• Negative Sentiment: Articles focused on the stock being down since its last earnings report highlight weakening momentum and investor concern that the post-earnings rally has faded. Why Is Kraft Heinz (KHC) Down 5% Since Last Earnings Report?
• Negative Sentiment: Management commentary on “negative cash flows” among lower-income consumers points to softer demand for packaged foods if stressed households keep pulling back on spending. Running out of money: Kraft, McDonald’s, Whirlpool CEOs all issue same dire warning about US consumers

Analyst Upgrades and Downgrades

KHC has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Kraft Heinz from $20.00 to $22.00 and gave the company a "hold" rating in a report on Thursday, May 7th. UBS Group lifted their price objective on Kraft Heinz from $23.00 to $24.00 and gave the company a "neutral" rating in a report on Friday, May 8th. Wall Street Zen cut Kraft Heinz from a "buy" rating to a "hold" rating in a report on Sunday, May 31st. The Goldman Sachs Group set a $23.00 price objective on shares of Kraft Heinz in a research note on Thursday, February 12th. Finally, Piper Sandler reduced their price objective on shares of Kraft Heinz from $24.00 to $23.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of "Reduce" and an average price target of $22.69.

Kraft Heinz Company 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.

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