Kraft Heinz Company $KHC Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC cut its Kraft Heinz stake by 30.1% in the fourth quarter, selling 126,200 shares and leaving it with 293,600 shares valued at about $7.12 million.
• Analysts remain cautious on KHC, with a consensus rating of “Reduce” and an average price target of $23.06 after several firms trimmed their targets.
• Kraft Heinz beat quarterly expectations and reiterated guidance, posting EPS of $0.58 versus $0.50 expected and revenue of $6.05 billion, while also declaring a quarterly dividend of $0.40 per share.

Gabelli Funds LLC decreased its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 30.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 293,600 shares of the company's stock after selling 126,200 shares during the quarter. Gabelli Funds LLC's holdings in Kraft Heinz were worth $7,120,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Parkside Financial Bank & Trust grew its stake in Kraft Heinz by 15.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 3,219 shares of the company's stock valued at $84,000 after acquiring an additional 431 shares during the period. V Square Quantitative Management LLC grew its stake in Kraft Heinz by 3.2% in the 4th quarter. V Square Quantitative Management LLC now owns 14,892 shares of the company's stock valued at $361,000 after acquiring an additional 458 shares during the period. Hantz Financial Services Inc. grew its stake in Kraft Heinz by 13.4% in the 3rd quarter. Hantz Financial Services Inc. now owns 3,894 shares of the company's stock valued at $101,000 after acquiring an additional 460 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in Kraft Heinz by 1.7% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 29,623 shares of the company's stock valued at $718,000 after acquiring an additional 490 shares during the period. Finally, Barrett & Company Inc. grew its stake in Kraft Heinz by 22.7% in the 3rd quarter. Barrett & Company Inc. now owns 2,700 shares of the company's stock valued at $70,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Analysts Set New Price Targets

KHC has been the topic of a number of research reports. Mizuho decreased their price objective on Kraft Heinz from $27.00 to $25.00 and set a "neutral" rating on the stock in a report on Monday, February 23rd. Jefferies Financial Group decreased their price objective on Kraft Heinz from $23.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, March 30th. Sanford C. Bernstein raised their price objective on Kraft Heinz from $24.00 to $27.00 and gave the company a "market perform" rating in a report on Thursday, February 12th. BNP Paribas Exane decreased their price objective on Kraft Heinz from $18.00 to $17.00 in a report on Thursday, May 7th. Finally, Evercore decreased their price objective on Kraft Heinz from $25.00 to $22.00 in a report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Reduce" and an average target price of $23.06.

Kraft Heinz Stock Up 1.1%

Shares of KHC opened at $23.53 on Thursday. The firm has a market cap of $27.90 billion, a P/E ratio of -4.84 and a beta of 0.06. Kraft Heinz Company has a 12-month low of $21.03 and a 12-month high of $29.19. The company's 50-day moving average price is $22.59 and its 200 day moving average price is $23.70. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, May 6th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.89 billion. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 23.05%.Kraft Heinz's revenue was up .8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, sell-side analysts forecast that Kraft Heinz Company will post 2.06 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.8%. The ex-dividend date of this dividend is Friday, June 5th. Kraft Heinz's dividend payout ratio is -32.92%.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 9,045 shares of the company's stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $24.61, for a total value of $222,597.45. Following the completion of the transaction, the insider directly owned 202,454 shares of the company's stock, valued at $4,982,392.94. This represents a 4.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.

Kraft Heinz Company Profile

The Kraft Heinz Company NASDAQ: KHC is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Company (NASDAQ:KHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.