Kraft Heinz Company $KHC Shares Sold by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC cut its Kraft Heinz stake by 35.3% in the first quarter, selling 79,732 shares and leaving it with 146,341 shares worth about $3.29 million.
• Wall Street sentiment remains cautious: analysts have a consensus rating of “Reduce” on Kraft Heinz, with a consensus price target of $22.88 despite a recent upgrade by Wall Street Zen.
• The company beat quarterly expectations and continues paying a high dividend, reporting EPS of $0.58 on revenue of $6.05 billion and paying a quarterly dividend of $0.40, equal to a 6.3% annual yield.

Janney Montgomery Scott LLC decreased its holdings in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 35.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 146,341 shares of the company's stock after selling 79,732 shares during the quarter. Janney Montgomery Scott LLC's holdings in Kraft Heinz were worth $3,291,000 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. Jessup Wealth Management Inc purchased a new stake in Kraft Heinz in the fourth quarter valued at about $27,000. Reflection Asset Management purchased a new stake in shares of Kraft Heinz during the fourth quarter worth about $28,000. DV Equities LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter worth about $29,000. Key Capital Management INC acquired a new position in shares of Kraft Heinz during the fourth quarter valued at about $29,000. Finally, New England Capital Financial Advisors LLC raised its position in shares of Kraft Heinz by 70.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company's stock valued at $30,000 after purchasing an additional 511 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of Kraft Heinz from a "hold" rating to a "buy" rating in a research note on Saturday. Morgan Stanley set a $22.00 price target on shares of Kraft Heinz in a report on Thursday, April 23rd. Wells Fargo & Company lowered their price objective on shares of Kraft Heinz from $25.00 to $23.00 and set an "equal weight" rating for the company in a research note on Thursday, March 12th. Zacks Research raised shares of Kraft Heinz from a "strong sell" rating to a "hold" rating in a report on Tuesday, April 21st. Finally, Sanford C. Bernstein lowered Kraft Heinz from a "market perform" rating to an "underperform" rating and reduced their target price for the stock from $25.00 to $21.00 in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of "Reduce" and a consensus target price of $22.88.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $25.30 on Wednesday. The company has a 50 day simple moving average of $23.52 and a two-hundred day simple moving average of $23.46. The stock has a market cap of $30.00 billion, a price-to-earnings ratio of -5.21 and a beta of 0.09. 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 Company has a 12 month low of $21.03 and a 12 month high of $29.19.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.89 billion. Kraft Heinz had a negative net margin of 23.05% and a positive return on equity of 7.26%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.62 earnings per share. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. As a group, analysts predict that Kraft Heinz Company will post 2.07 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Friday, June 5th. Kraft Heinz's payout ratio is -32.92%.

Insider Activity

In related news, insider Diana Frost sold 18,502 shares of Kraft Heinz stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $23.05, for a total transaction of $426,471.10. Following the completion of the transaction, the insider directly owned 102,667 shares in the company, valued at approximately $2,366,474.35. This trade represents a 15.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Kraft Heinz 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.

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.