Amundi Sells 3,155,050 Shares of Kraft Heinz Company $KHC

Key Points

• Amundi reduced its stake in Kraft Heinz by 37.0%, selling over 3 million shares, resulting in ownership of approximately 5.37 million shares valued at $165.5 million.
• Multiple hedge funds adjusted their holdings, with Vanguard Group increasing its stake by 12.7% and Pacer Advisors seeing a remarkable increase of 4,390.7%.
• Kraft Heinz reported $0.69 earnings per share for the last quarter, exceeding analysts' expectations, while also announcing a $0.40 quarterly dividend with a yield of 5.9%.

Amundi trimmed its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 37.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,372,779 shares of the company's stock after selling 3,155,050 shares during the period. Amundi owned approximately 0.45% of Kraft Heinz worth $165,535,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Klingenstein Fields & Co. LP raised its position in shares of Kraft Heinz by 4.6% during the 1st quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company's stock valued at $239,000 after acquiring an additional 344 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC raised its position in shares of Kraft Heinz by 4.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock valued at $307,000 after acquiring an additional 386 shares during the last quarter. Meeder Advisory Services Inc. raised its position in shares of Kraft Heinz by 2.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company's stock valued at $459,000 after acquiring an additional 393 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Kraft Heinz by 1.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company's stock valued at $779,000 after acquiring an additional 397 shares during the last quarter. Finally, Oppenheimer & Co. Inc. raised its position in shares of Kraft Heinz by 0.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company's stock valued at $2,101,000 after acquiring an additional 397 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Up 1.2%

NASDAQ KHC traded up $0.33 on Friday, reaching $27.29. The company had a trading volume of 14,753,200 shares, compared to its average volume of 13,326,064. The firm has a market capitalization of $32.30 billion, a price-to-earnings ratio of -6.08, a price-to-earnings-growth ratio of 3.18 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. Kraft Heinz Company has a 1-year low of $25.44 and a 1-year high of $36.31. The company's fifty 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 earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The firm 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%. The company's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.78 EPS. 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 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be given 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 5.9%. Kraft Heinz's payout ratio is -35.63%.

Insider Buying and Selling

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the business's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the sale, the director directly owned 40,000 shares of the company's stock, valued at $1,116,400. The trade was a 38.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on KHC shares. UBS Group set a $28.00 price target on shares of Kraft Heinz and gave the company a "neutral" rating in a report on Thursday. JPMorgan Chase & Co. started coverage on shares of Kraft Heinz in a report on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 price target for the company. The Goldman Sachs Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and boosted their price target for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Morgan Stanley set a $29.00 price target on shares of Kraft Heinz and gave the company an "equal weight" rating in a report on Wednesday. Finally, Hsbc Global Res raised shares of Kraft Heinz to a "hold" rating in a report on Friday, August 1st. Seventeen equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $29.76.

Kraft Heinz Company 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.