Kraft Heinz Company $KHC Position Cut by Envestnet Asset Management Inc.

Key Points

• Envestnet Asset Management cut its Kraft Heinz position by 13.3% in the second quarter, selling 135,967 shares and retaining 887,666 shares valued at approximately $21.0 million. Institutional investors and hedge funds collectively own 78.17% of the company.
• Analyst sentiment remains cautious, with one Buy, eleven Hold, and five Sell ratings, producing a consensus “Reduce” rating and an average price target of $23.88.
• Kraft Heinz reported quarterly EPS of $0.56, beating estimates, while revenue rose to $6.26 billion but declined 1.4% year over year. The company pays a quarterly dividend of $0.40, equivalent to a 6.8% annualized yield.

Envestnet Asset Management Inc. reduced its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 13.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 887,666 shares of the company's stock after selling 135,967 shares during the period. Envestnet Asset Management Inc. owned about 0.07% of Kraft Heinz worth $20,967,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Kraft Heinz during the second quarter worth about $1,803,911,000. Norges Bank acquired a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $332,382,000. Barclays PLC grew its holdings in shares of Kraft Heinz by 77.8% in the fourth quarter. Barclays PLC now owns 8,973,146 shares of the company's stock valued at $217,599,000 after purchasing an additional 3,926,141 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Kraft Heinz by 15.3% during the 4th quarter. Bank of New York Mellon Corp now owns 8,802,220 shares of the company's stock worth $213,454,000 after buying an additional 1,167,964 shares during the period. Finally, Pacer Advisors Inc. lifted its holdings in Kraft Heinz by 7.3% during the 1st quarter. Pacer Advisors Inc. now owns 9,270,503 shares of the company's stock worth $208,494,000 after buying an additional 633,645 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have commented on KHC. Royal Bank Of Canada restated an "outperform" rating and issued a $32.00 price target on shares of Kraft Heinz in a research note on Thursday, September 24th. TD Cowen reiterated a "hold" rating and issued a $22.00 price objective on shares of Kraft Heinz in a research note on Tuesday, September 22nd. JPMorgan Chase & Co. lifted their target price on Kraft Heinz from $21.00 to $22.00 and gave the company an "underweight" rating in a report on Wednesday, July 15th. Evercore set a $24.00 target price on Kraft Heinz in a research note on Thursday, August 6th. Finally, Wells Fargo & Company upped their price target on Kraft Heinz from $23.00 to $25.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company's stock. Based on data from MarketBeat, Kraft Heinz currently has an average rating of "Reduce" and a consensus price target of $23.88.

Kraft Heinz Stock Down 0.4%

KHC stock opened at $23.48 on Wednesday. The stock has a market cap of $27.84 billion, a P/E ratio of -8.21, a PEG ratio of 2.99 and a beta of 0.09. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. Kraft Heinz Company has a twelve month low of $21.03 and a twelve month high of $28.09. The company's 50 day moving average is $25.17 and its two-hundred day moving average is $23.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Wednesday, August 5th. The company reported $0.56 EPS for the quarter, beating analysts' consensus estimates of $0.53 by $0.03. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the firm posted $0.69 EPS. The company's revenue was down 1.4% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Research analysts expect that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.8%. The ex-dividend date of this dividend was Friday, September 4th. Kraft Heinz's payout ratio is presently -55.94%.

Kraft Heinz Profile

The Kraft Heinz Company NASDAQ: KHC is a global food and beverage company that develops, manufactures and markets packaged foods and beverages for consumers, retailers and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and other grocery items.

The company's brands include Heinz, Kraft, Oscar Mayer, Philadelphia, Velveeta, Lunchables, Maxwell House, Capri Sun, Jell-O, Ore-Ida, Classico, Grey Poupon and Planters.

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