Clear Harbor Asset Management LLC Buys New Position in Kraft Heinz Company $KHC

Key Points

• Clear Harbor Asset Management LLC has acquired a new position in Kraft Heinz Company, purchasing 27,596 shares valued at approximately $713,000.
• A significant portion of Kraft Heinz's shares, about 78.17%, is held by institutional investors and hedge funds, indicating strong institutional interest in the company.
• Kraft Heinz has announced a quarterly dividend of $0.40 per share, with an annualized yield of 6.1%, reflecting its commitment to returning value to shareholders.

Clear Harbor Asset Management LLC bought a new stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 27,596 shares of the company's stock, valued at approximately $713,000.

A number of other large investors have also recently made changes to their positions in the company. Foundation Resource Management Inc. boosted its position in shares of Kraft Heinz by 0.3% in the 2nd quarter. Foundation Resource Management Inc. now owns 313,349 shares of the company's stock valued at $8,091,000 after purchasing an additional 874 shares during the period. Farmers & Merchants Investments Inc. boosted its position in shares of Kraft Heinz by 2.8% in the 2nd quarter. Farmers & Merchants Investments Inc. now owns 103,112 shares of the company's stock valued at $2,662,000 after purchasing an additional 2,854 shares during the period. Sowell Financial Services LLC boosted its position in shares of Kraft Heinz by 10.8% in the 2nd quarter. Sowell Financial Services LLC now owns 153,836 shares of the company's stock valued at $3,972,000 after purchasing an additional 15,029 shares during the period. UMB Bank n.a. boosted its position in shares of Kraft Heinz by 104.2% in the 2nd quarter. UMB Bank n.a. now owns 20,177 shares of the company's stock valued at $521,000 after purchasing an additional 10,294 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Kraft Heinz by 5.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 92,851 shares of the company's stock worth $2,397,000 after acquiring an additional 4,711 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction dated Friday, July 18th. The stock was 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 approximately $1,116,400. The trade was 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 this hyperlink. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley set a $29.00 price objective on Kraft Heinz and gave the stock an "equal weight" rating in a research report on Wednesday, September 3rd. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Wells Fargo & Company decreased their price objective on Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 3rd. Stifel Nicolaus decreased their price objective on Kraft Heinz from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, September 3rd. Finally, UBS Group set a $28.00 price objective on Kraft Heinz and gave the stock a "neutral" rating in a research report on Thursday, September 4th. Seventeen equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $29.76.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $26.38 on Tuesday. Kraft Heinz Company has a twelve month low of $25.44 and a twelve month high of $36.31. The stock has a market capitalization of $31.22 billion, a P/E ratio of -5.88, a PEG ratio of 3.08 and a beta of 0.23. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. The business's fifty day moving average price is $27.38 and its 200 day moving average price is $27.82.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued 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 positive return on equity of 7.40% and a negative net margin of 20.83%.The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.78 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. As a group, research analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz's payout ratio 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.

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Company (NASDAQ:KHC - Free Report).

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.