NewEdge Advisors LLC Buys 59,918 Shares of Kraft Heinz Company $KHC

NewEdge Advisors LLC boosted its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 48.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 183,840 shares of the company's stock after acquiring an additional 59,918 shares during the quarter. NewEdge Advisors LLC's holdings in Kraft Heinz were worth $4,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Reflection Asset Management bought a new position in shares of Kraft Heinz in the 4th quarter worth approximately $28,000. Cassaday & Co Wealth Management LLC purchased a new stake in Kraft Heinz in the first quarter worth about $27,000. Hara Capital LLC purchased a new position in shares of Kraft Heinz during the second quarter valued at approximately $29,000. Fiduciary Financial Advisors bought a new stake in shares of Kraft Heinz in the 2nd quarter worth approximately $33,000. Finally, Comprehensive Financial Planning Inc. PA bought a new position in shares of Kraft Heinz during the second quarter valued at $34,000. 78.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Diana Frost sold 18,502 shares of the firm's stock in a transaction 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 sale, the insider owned 102,667 shares of the company's stock, valued at $2,366,474.35. This trade represents a 15.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.24% of the company's stock.

Kraft Heinz Stock Down 1.2%

Shares of NASDAQ:KHC opened at $24.30 on Tuesday. The company has a quick ratio of 0.68, a current ratio of 1.06 and a debt-to-equity ratio of 0.49. The business's 50 day moving average is $25.45 and its 200 day moving average is $23.97. The stock has a market cap of $28.81 billion, a P/E ratio of -8.49, a price-to-earnings-growth ratio of 2.99 and a beta of 0.09. Kraft Heinz Company has a 52-week low of $21.03 and a 52-week high of $28.09.

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 the consensus estimate of $0.53 by $0.03. The firm had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.18 billion. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The company's revenue was down 1.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.69 EPS. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Sell-side analysts predict that Kraft Heinz Company will post 2.06 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.6%. Kraft Heinz's payout ratio is presently -55.94%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KHC. TD Cowen boosted 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. Weiss Ratings downgraded Kraft Heinz from a "sell (d)" rating to a "sell (d-)" rating in a research note on Thursday, August 6th. Barclays increased their price objective on shares of Kraft Heinz from $25.00 to $26.00 and gave the stock an "equal weight" rating in a research note on Friday, August 7th. Evercore set a $24.00 target price on shares of Kraft Heinz in a report on Thursday, August 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Kraft Heinz from $21.00 to $22.00 and gave the stock an "underweight" rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $23.33.

About Kraft Heinz

The Kraft Heinz Company NASDAQ: KHC is a global food and beverage company that develops, manufactures and markets branded products for consumers, retailers, foodservice operators and other customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, beverages, snacks and other packaged foods.

The company's well-known brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Lunchables, Capri Sun, Jell-O, Maxwell House and Classico, among others.

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