Korea Investment CORP Reduces Stake in Kraft Heinz Company $KHC

Key Points

• Korea Investment CORP reduced its stake in Kraft Heinz by 24.4% in the first quarter, selling 176,790 shares and retaining a total of 547,951 shares valued at approximately $16.67 million.
• A variety of institutional investors have recently modified their holdings in Kraft Heinz, with Vanguard Group increasing its stake by 12.7% and Pacer Advisors boosting theirs by a staggering 4,390.7%.
• Kraft Heinz announced a quarterly dividend of $0.40 per share, representing an annual yield of 5.8%, with the payment scheduled for September 26th.

Korea Investment CORP lessened its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 24.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 547,951 shares of the company's stock after selling 176,790 shares during the quarter. Korea Investment CORP's holdings in Kraft Heinz were worth $16,674,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of KHC. Vanguard Group Inc. raised its position in Kraft Heinz by 12.7% during the first quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company's stock valued at $3,103,277,000 after purchasing an additional 11,472,071 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in Kraft Heinz by 4,390.7% in the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock valued at $226,523,000 after acquiring an additional 7,278,295 shares in the last quarter. Southeastern Asset Management Inc. TN purchased a new position in Kraft Heinz during the 4th quarter valued at $87,080,000. Fairfax Financial Holdings Ltd. Can raised its holdings in Kraft Heinz by 341.9% in 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 in the last quarter. Finally, Criteria Caixa S.A.U. purchased a new stake in shares of Kraft Heinz in the 4th quarter worth about $73,316,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on KHC shares. DZ Bank downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research note on Friday, May 9th. Wells Fargo & Company increased their target price on Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a research note on Friday, August 1st. The Goldman Sachs Group raised 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 note on Wednesday, June 25th. Finally, Stifel Nicolaus decreased their price objective on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Sixteen research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Reduce" and an average target price of $30.12.

Insider Transactions at Kraft Heinz

In other 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 value of $697,750.00. Following the transaction, the director owned 40,000 shares in the company, valued at approximately $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.35% of the company's stock.

Kraft Heinz Stock Down 0.9%

KHC stock opened at $27.42 on Thursday. The business has a 50 day moving average of $27.08 and a 200 day moving average of $28.35. The firm has a market cap of $32.45 billion, a PE ratio of -6.11, a price-to-earnings-growth ratio of 3.22 and a beta of 0.23. Kraft Heinz Company has a twelve month low of $25.44 and a twelve month high of $36.53. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The firm had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the firm posted $0.78 earnings per share. The company's quarterly revenue was down 1.9% on a year-over-year basis. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. On average, research analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is currently -35.63%.

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.

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