Comerica Bank Grows Position in Kraft Heinz Company $KHC

Key Points

• Comerica Bank increased its holdings in Kraft Heinz by 27.3%, owning a total of 139,579 shares worth approximately $4.25 million after acquiring an additional 29,972 shares in the first quarter.
• Recently, Kraft Heinz reported a quarterly earnings per share of $0.69, exceeding analysts' estimates of $0.64, while also announcing a quarterly dividend of $0.40 to be paid on September 26th, representing a 5.7% yield.
• Shares of Kraft Heinz showed a slight increase of 1.2%, with current trading at $27.97, alongside a market cap of $33.11 billion and ongoing institutional ownership of 78.17%.

Comerica Bank grew its holdings in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,579 shares of the company's stock after purchasing an additional 29,972 shares during the period. Comerica Bank's holdings in Kraft Heinz were worth $4,247,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hara Capital LLC boosted its stake in shares of Kraft Heinz by 61.9% in the 4th quarter. Hara Capital LLC now owns 1,700 shares of the company's stock valued at $52,000 after purchasing an additional 650 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in shares of Kraft Heinz by 3.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company's stock valued at $427,000 after purchasing an additional 408 shares in the last quarter. DoubleLine ETF Adviser LP boosted its stake in shares of Kraft Heinz by 2.6% in the 4th quarter. DoubleLine ETF Adviser LP now owns 50,242 shares of the company's stock valued at $1,543,000 after purchasing an additional 1,263 shares in the last quarter. Accredited Wealth Management LLC purchased a new stake in shares of Kraft Heinz in the 4th quarter valued at $80,000. Finally, AXA S.A. boosted its stake in shares of Kraft Heinz by 19.9% in the 4th quarter. AXA S.A. now owns 785,413 shares of the company's stock valued at $24,120,000 after purchasing an additional 130,615 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Up 1.2%

NASDAQ:KHC traded up $0.33 on Monday, reaching $27.97. 23,587,253 shares of the stock traded hands, compared to its average volume of 11,459,742. The company has a market capitalization of $33.11 billion, a price-to-earnings ratio of -6.23, a PEG ratio of 3.26 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. Kraft Heinz Company has a 12 month low of $25.44 and a 12 month high of $36.53. The company's fifty day simple moving average is $27.38 and its 200 day simple moving average is $28.28.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data 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 business had revenue of $6.35 billion during the quarter, compared to analyst estimates 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 last year, the business earned $0.78 EPS. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. Equities analysts predict that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 5.7%. Kraft Heinz's payout ratio is currently -35.63%.

Insiders Place Their Bets

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz 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 transaction, the director owned 40,000 shares of the company's stock, valued at $1,116,400. The trade was a 38.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on KHC shares. Mizuho set a $29.00 price target on shares of Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and upped their price objective for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. assumed coverage on shares of Kraft Heinz in a report on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 price objective for the company. Hsbc Global Res upgraded shares of Kraft Heinz to a "hold" rating in a report on Friday, August 1st. Finally, DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Friday, May 9th. Sixteen research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, Kraft Heinz has an average rating of "Reduce" and a consensus target price of $30.12.

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.