Bell Bank Raises Position in Kraft Heinz Company $KHC

Key Points

• Bell Bank increased its holdings in Kraft Heinz Company by 26.8%, owning 333,942 shares worth $8.62 million after purchasing an additional 70,537 shares in the 2nd quarter.
• Several institutions have significantly boosted their stakes in Kraft Heinz, with Hara Capital LLC increasing its stake by 61.9% and Two Sigma Advisers LP by 545.6% in the 4th quarter.
• Kraft Heinz recently announced a quarterly dividend of $0.40, resulting in an annualized yield of 6.1%, with the ex-dividend date set for August 29th.

Bell Bank raised its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 26.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 333,942 shares of the company's stock after acquiring an additional 70,537 shares during the period. Bell Bank's holdings in Kraft Heinz were worth $8,622,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Kraft Heinz by 12.7% during the 1st quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company's stock worth $3,103,277,000 after purchasing an additional 11,472,071 shares during the period. Pacer Advisors Inc. increased its position in Kraft Heinz by 4,390.7% during the 1st quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock worth $226,523,000 after purchasing an additional 7,278,295 shares during the period. Nuveen LLC acquired a new position in Kraft Heinz during the 1st quarter worth approximately $61,110,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Kraft Heinz by 22.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company's stock worth $318,933,000 after purchasing an additional 1,895,722 shares during the period. Finally, Deutsche Bank AG increased its position in Kraft Heinz by 24.1% during the 1st quarter. Deutsche Bank AG now owns 6,460,347 shares of the company's stock worth $196,588,000 after purchasing an additional 1,255,022 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction on 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 owned 40,000 shares in the company, valued at approximately $1,116,400. This represents a 38.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.35% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on KHC. Stifel Nicolaus dropped their target price on Kraft Heinz from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Wednesday, September 3rd. Mizuho set a $29.00 price target on Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a report on Friday, August 1st. Morgan Stanley set a $29.00 price target on Kraft Heinz and gave the stock an "equal weight" rating in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. began coverage on Kraft Heinz in a report on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 price target on the stock. Seventeen research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Kraft Heinz presently has an average rating of "Reduce" and an average price target of $29.76.

Kraft Heinz Price Performance

NASDAQ:KHC traded down $0.04 during trading hours on Monday, reaching $26.39. 11,677,553 shares of the company traded hands, compared to its average volume of 12,912,798. The firm's 50-day moving average is $27.41 and its 200-day moving average is $27.86. The stock has a market cap of $31.23 billion, a P/E ratio of -5.88, a P/E/G ratio of 3.08 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. Kraft Heinz Company has a 1-year low of $25.44 and a 1-year high of $36.31.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 EPS 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%.Kraft Heinz's quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. Equities research analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced 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. This represents a $1.60 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Friday, August 29th. Kraft Heinz's dividend payout ratio is -35.63%.

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.