Longfellow Investment Management Co. LLC Makes New Investment in Kraft Heinz Company $KHC

Key Points

• Longfellow Investment Management acquired 372,872 Kraft Heinz shares worth approximately $8.8 million in the second quarter, making KHC its 12th-largest holding. Institutional investors collectively own 78.17% of the company.
• Kraft Heinz beat quarterly earnings expectations, reporting $0.56 in EPS versus the $0.53 consensus, while revenue reached $6.26 billion. However, revenue declined 1.4% year over year and the company posted a negative net margin.
• The company declared a quarterly dividend of $0.40 per share, or $1.60 annualized, representing a yield of about 6.3%. Analysts remain cautious, with a consensus “Reduce” rating and an average price target of $23.62.

Longfellow Investment Management Co. LLC acquired a new position in Kraft Heinz Company (NASDAQ:KHC - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 372,872 shares of the company's stock, valued at approximately $8,807,000. Kraft Heinz comprises 1.8% of Longfellow Investment Management Co. LLC's investment portfolio, making the stock its 12th biggest holding.

A number of other large investors also recently modified their holdings of the stock. Cassaday & Co Wealth Management LLC purchased a new stake in Kraft Heinz in the 1st quarter valued at $27,000. Jessup Wealth Management Inc bought a new position in Kraft Heinz during the 4th quarter valued at $27,000. Reflection Asset Management purchased a new position in Kraft Heinz during the 4th quarter worth $28,000. DV Equities LLC bought a new stake in shares of Kraft Heinz in the 4th quarter worth $29,000. Finally, New England Capital Financial Advisors LLC raised its holdings in shares of Kraft Heinz by 70.2% in the fourth 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. Institutional investors own 78.17% of the company's stock.

Insiders Place Their Bets

In other Kraft Heinz news, insider Diana Frost sold 18,502 shares of the stock in a transaction 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 of the company's stock, valued at approximately $2,366,474.35. This represents a 15.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.24% of the company's stock.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $25.51 on Monday. The company has a market capitalization of $30.25 billion, a PE ratio of -8.92 and a beta of 0.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.06. Kraft Heinz Company has a 52-week low of $21.03 and a 52-week high of $28.10. The company has a 50-day simple moving average of $24.86 and a 200 day simple moving average of $23.83.

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

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 4th. This represents a $1.60 annualized dividend and a yield of 6.3%. Kraft Heinz's dividend payout ratio is presently -55.94%.

Analysts Set New Price Targets

KHC has been the topic of a number of recent analyst reports. TD Cowen raised their price target on shares of Kraft Heinz from $20.00 to $22.00 and gave the company a "hold" rating in a research report on Thursday, August 6th. Weiss Ratings downgraded shares of Kraft Heinz from a "sell (d)" rating to a "sell (d-)" rating in a research report on Thursday, August 6th. Barclays lifted their target price on shares of Kraft Heinz from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research report on Friday, August 7th. Wall Street Zen downgraded Kraft Heinz from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Morgan Stanley set a $22.00 price target on Kraft Heinz in a report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $23.62.

About Kraft Heinz

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source