Old North State Wealth Management LLC Boosts Holdings in Kraft Heinz Company $KHC

Key Points

• Old North State Wealth Management LLC increased its holdings in Kraft Heinz Company by 13.2% during Q2, now owning 100,805 shares valued at approximately $2.6 million.
• Kraft Heinz Company announced a quarterly dividend of $0.40 per share, representing an annualized yield of 6.2%, with the payment date set for September 26.
• Several analysts have updated their ratings on Kraft Heinz, with the current consensus of "Hold" and an average price target of $29.76.

Old North State Wealth Management LLC lifted its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 13.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,805 shares of the company's stock after purchasing an additional 11,736 shares during the quarter. Kraft Heinz comprises approximately 1.4% of Old North State Wealth Management LLC's investment portfolio, making the stock its 27th biggest position. Old North State Wealth Management LLC's holdings in Kraft Heinz were worth $2,604,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ascent Group LLC purchased a new position in shares of Kraft Heinz during the fourth quarter worth $227,000. Centaurus Financial Inc. boosted its holdings in Kraft Heinz by 49.1% during the 4th quarter. Centaurus Financial Inc. now owns 4,933 shares of the company's stock valued at $152,000 after acquiring an additional 1,625 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Kraft Heinz by 109.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 155,614 shares of the company's stock valued at $4,779,000 after acquiring an additional 81,159 shares in the last quarter. Wellington Management Group LLP increased its stake in Kraft Heinz by 39.6% during the fourth quarter. Wellington Management Group LLP now owns 176,864 shares of the company's stock worth $5,431,000 after purchasing an additional 50,211 shares during the period. Finally, Kera Capital Partners Inc. acquired a new stake in shares of Kraft Heinz during the first quarter worth about $299,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on KHC shares. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a report on Friday, August 1st. Morgan Stanley set a $29.00 price target on shares of Kraft Heinz and gave the stock an "equal weight" rating in a report on Wednesday, September 3rd. DZ Bank upgraded shares of Kraft Heinz from a "hold" rating to a "strong-buy" rating in a report on Friday, September 19th. Wells Fargo & Company decreased their price objective on shares of 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. Finally, Stifel Nicolaus cut their price target on Kraft Heinz from $30.00 to $28.00 and set a "hold" rating on the stock in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Kraft Heinz has an average rating of "Hold" and an average target price of $29.76.

Kraft Heinz Trading Down 3.5%

Shares of KHC opened at $25.81 on Friday. Kraft Heinz Company has a 1-year low of $25.44 and a 1-year high of $36.31. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The firm has a 50 day simple moving average of $27.31 and a 200-day simple moving average of $27.76. The stock has a market cap of $30.55 billion, a price-to-earnings ratio of -5.75, a price-to-earnings-growth ratio of 3.12 and a beta of 0.23.

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

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 6.2%. Kraft Heinz's payout ratio is -35.63%.

Insiders Place Their Bets

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