DoubleLine ETF Adviser LP Lowers Stake in Kraft Heinz Company $KHC

Key Points

• DoubleLine ETF Adviser LP reduced its holdings in Kraft Heinz Company by 18.8%, selling 9,456 shares during the first quarter, leaving them with a total of 40,786 shares valued at approximately $1.24 million.
• Several institutional investors, including Versant Capital Management Inc and Farther Finance Advisors LLC, significantly increased their stakes in Kraft Heinz, indicating a growing institutional interest in the company.
• Kraft Heinz announced a quarterly dividend of $0.40 per share, which results in an annualized yield of 5.9% and is set to be paid on September 26th, pending shareholder record on August 29th.

DoubleLine ETF Adviser LP lowered its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 18.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,786 shares of the company's stock after selling 9,456 shares during the period. DoubleLine ETF Adviser LP's holdings in Kraft Heinz were worth $1,241,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of KHC. Vanguard Group Inc. raised its position in shares of Kraft Heinz by 12.7% in the first quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company's stock worth $3,103,277,000 after acquiring an additional 11,472,071 shares during the period. Pacer Advisors Inc. raised its position in shares of Kraft Heinz by 4,390.7% in the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock worth $226,523,000 after acquiring an additional 7,278,295 shares during the period. Southeastern Asset Management Inc. TN acquired a new position in shares of Kraft Heinz during the 4th quarter worth about $87,080,000. Fairfax Financial Holdings Ltd. Can raised its position in shares of Kraft Heinz by 341.9% during the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock worth $101,773,000 after purchasing an additional 2,564,000 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Kraft Heinz during the 1st quarter worth about $61,110,000. Institutional investors and hedge funds own 78.17% of the company's stock.

Insider Buying and Selling at Kraft Heinz

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

Kraft Heinz Price Performance

NASDAQ KHC traded up $0.33 during trading hours on Friday, hitting $27.29. 14,753,200 shares of the company's stock traded hands, compared to its average volume of 13,051,689. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.31. The company has a market capitalization of $32.30 billion, a PE ratio of -6.08, a PEG ratio of 3.18 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The firm's 50-day moving average is $27.46 and its 200-day moving average is $28.21.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating 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 company had revenue of $6.35 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the prior year, the company earned $0.78 EPS. Kraft Heinz's revenue was down 1.9% compared to the same quarter last year. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. Equities analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.9%. Kraft Heinz's dividend payout ratio is -35.63%.

Analyst Ratings Changes

KHC has been the subject of several research analyst reports. Hsbc Global Res upgraded shares of Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. Stifel Nicolaus reduced their price target on shares of Kraft Heinz from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday. JPMorgan Chase & Co. initiated coverage on shares of Kraft Heinz in a research report on Wednesday, August 20th. They set a "neutral" rating and a $27.00 price target for the company. The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and upped their price target for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday. Seventeen research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $29.76.

Kraft Heinz 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.