L2 Asset Management LLC Purchases Shares of 154,061 Kraft Heinz Company $KHC

Key Points

• L2 Asset Management purchased 154,061 Kraft Heinz shares worth approximately $3.64 million, while institutional investors and hedge funds collectively own 78.17% of the company.
• Analyst sentiment remains cautious, with an average “Reduce” rating and a $23.62 price target; ratings include one Strong Buy, twelve Holds, and five Sells.
• Kraft Heinz surpassed quarterly earnings and revenue estimates, reporting $0.56 EPS and $6.26 billion in revenue, and declared a quarterly dividend of $0.40 per share, representing a 6.2% annualized yield.

L2 Asset Management LLC bought a new position in Kraft Heinz Company (NASDAQ:KHC - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 154,061 shares of the company's stock, valued at approximately $3,639,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Kraft Heinz in the 2nd quarter valued at $1,803,911,000. Auto Owners Insurance Co raised its holdings in shares of Kraft Heinz by 3,034.1% during the 4th quarter. Auto Owners Insurance Co now owns 16,477,002 shares of the company's stock valued at $39,957,000 after buying an additional 15,951,271 shares during the period. Norges Bank acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $332,382,000. Deutsche Bank AG purchased a new position in shares of Kraft Heinz in the second quarter valued at $179,876,000. Finally, Bank of New York Mellon Corp acquired a new position in Kraft Heinz in the 2nd quarter worth $170,097,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kraft Heinz

In related news, insider Diana Frost sold 18,502 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $23.05, for a total value of $426,471.10. Following the completion of the transaction, the insider directly owned 102,667 shares of the company's stock, valued at $2,366,474.35. This represents a 15.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

KHC has been the topic of a number of analyst reports. Evercore set a $24.00 target price on Kraft Heinz in a research report on Thursday, August 6th. Weiss Ratings cut shares of Kraft Heinz from a "sell (d)" rating to a "sell (d-)" rating in a report on Thursday, August 6th. TD Cowen raised their price objective on shares of Kraft Heinz from $20.00 to $22.00 and gave the stock a "hold" rating in a report on Thursday, August 6th. Wells Fargo & Company upped their target price on shares of Kraft Heinz from $23.00 to $25.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 8th. Finally, Sanford C. Bernstein downgraded Kraft Heinz from a "market perform" rating to an "underperform" rating and decreased their price target for the stock from $25.00 to $21.00 in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $23.62.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $25.67 on Tuesday. The company has a market cap of $30.44 billion, a P/E ratio of -8.98 and a beta of 0.08. The business has a 50 day moving average of $25.03 and a two-hundred day moving average of $23.90. Kraft Heinz Company has a 52 week low of $21.03 and a 52 week high of $28.09. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.56 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $6.26 billion for the quarter, compared to analysts' expectations of $6.18 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%.The business's quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.69 EPS. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. As a group, analysts anticipate that Kraft Heinz Company will post 2.06 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.40 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.60 annualized dividend and a yield of 6.2%. Kraft Heinz's dividend payout ratio is -55.94%.

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.

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