OLD National Bancorp IN Grows Stake in Kraft Heinz Company $KHC

Key Points

• OLD National Bancorp IN has increased its stake in Kraft Heinz Company (NASDAQ: KHC) by 45.2% during the second quarter, owning 392,975 shares valued at approximately $10.1 million.
• Research analysts have mixed opinions on Kraft Heinz, with one upgrade to a "strong-buy" and others reducing target prices, resulting in a consensus rating of "Reduce" with a price target of $29.76.
• Kraft Heinz recently announced a quarterly dividend of $0.40, reflecting an annualized yield of 6.1%, despite facing a negative net margin and a revenue decrease of 1.9% year-over-year.

OLD National Bancorp IN increased its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 45.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 392,975 shares of the company's stock after acquiring an additional 122,270 shares during the period. OLD National Bancorp IN's holdings in Kraft Heinz were worth $10,147,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KHC. Swedbank AB boosted its position in shares of Kraft Heinz by 13.6% during the first quarter. Swedbank AB now owns 878,684 shares of the company's stock valued at $26,738,000 after buying an additional 104,872 shares during the period. Bard Financial Services Inc. boosted its position in shares of Kraft Heinz by 24.5% during the second quarter. Bard Financial Services Inc. now owns 104,225 shares of the company's stock valued at $2,691,000 after buying an additional 20,500 shares during the period. D.A. Davidson & CO. boosted its position in shares of Kraft Heinz by 7.8% during the first quarter. D.A. Davidson & CO. now owns 90,252 shares of the company's stock valued at $2,746,000 after buying an additional 6,551 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Kraft Heinz by 1.3% during the first quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock valued at $248,665,000 after buying an additional 103,548 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Kraft Heinz by 28.1% during the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock valued at $481,000 after buying an additional 3,468 shares during the period. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on KHC shares. Stifel Nicolaus dropped their target price on Kraft Heinz from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Wednesday, September 3rd. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. Wells Fargo & Company dropped their target price on Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 3rd. DZ Bank upgraded Kraft Heinz from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Kraft Heinz in a report on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of $29.76.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $26.06 on Friday. The company has a market capitalization of $30.84 billion, a price-to-earnings ratio of -5.80, a price-to-earnings-growth ratio of 3.04 and a beta of 0.16. Kraft Heinz Company has a 52 week low of $25.35 and a 52 week high of $36.31. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The firm has a 50 day moving average of $27.02 and a 200 day moving average of $27.56.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. Kraft Heinz's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. On average, sell-side analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a yield of 6.1%. Kraft Heinz's payout ratio is -35.63%.

Insider Buying and Selling

In other news, Director Elio Leoni Sceti sold 25,000 shares of the company's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the transaction, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,116,400. This represents a 38.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.35% of the stock is owned by company insiders.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.

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