Corebridge Financial Inc. Sells 80,145 Shares of Kraft Heinz Company $KHC

Key Points

• Corebridge Financial Inc. reduced its stake in Kraft Heinz Company by 19.7%, selling 80,145 shares in the first quarter and holding 327,136 shares worth approximately $9.95 million.
• Kraft Heinz reported a **Q2 EPS of $0.69**, exceeding analyst expectations of $0.64, and generated revenue of $6.35 billion, down 1.9% year-over-year.
• The company recently announced a quarterly dividend of $0.40 per share, representing an annualized yield of **5.7%** for investors of record.

Corebridge Financial Inc. lessened its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 19.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 327,136 shares of the company's stock after selling 80,145 shares during the period. Corebridge Financial Inc.'s holdings in Kraft Heinz were worth $9,955,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in KHC. Rossby Financial LCC bought a new position in Kraft Heinz during the 1st quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Kraft Heinz during the 1st quarter worth approximately $33,000. Investment Management Corp VA ADV raised its position in shares of Kraft Heinz by 141.7% during the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after purchasing an additional 669 shares during the period. Pinney & Scofield Inc. acquired a new stake in Kraft Heinz in the 4th quarter valued at approximately $38,000. Finally, Abound Wealth Management increased its position in Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after acquiring an additional 1,157 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Performance

KHC traded up $0.33 on Friday, hitting $27.97. 23,587,253 shares of the stock traded hands, compared to its average volume of 11,126,702. Kraft Heinz Company has a 52 week low of $25.44 and a 52 week high of $36.53. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $33.11 billion, a PE ratio of -6.23, a P/E/G ratio of 3.26 and a beta of 0.23. The business has a fifty day moving average price of $27.34 and a two-hundred day moving average price of $28.29.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results 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. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The company's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.78 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. On average, research analysts predict that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed 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 5.7%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz's payout ratio is presently -35.63%.

Insiders Place Their Bets

In related news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction that occurred 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 directly owned 40,000 shares in the company, valued at $1,116,400. This represents a 38.46% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on KHC. DZ Bank cut Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a research report on Friday, May 9th. Mizuho set a $29.00 target price on Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. UBS Group raised their target price on Kraft Heinz from $29.00 to $30.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Hsbc Global Res raised Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and raised their target price for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Sixteen equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $30.12.

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.