ProShare Advisors LLC Grows Position in Kraft Heinz Company $KHC

Key Points

• ProShare Advisors LLC increased its Kraft Heinz stake by 38.6% in the fourth quarter, buying 567,694 more shares and bringing its total holdings to about 2.04 million shares worth roughly $49.4 million.
• Analysts remain cautious on KHC: the consensus rating is "Reduce" with an average price target of $23.06, though some firms recently nudged targets higher or lower.
• Kraft Heinz reported better-than-expected quarterly results, with EPS of $0.58 versus the $0.50 estimate and revenue of $6.05 billion, and it also announced a quarterly dividend of $0.40 per share payable June 26.

ProShare Advisors LLC lifted its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 38.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,036,877 shares of the company's stock after purchasing an additional 567,694 shares during the quarter. ProShare Advisors LLC owned about 0.17% of Kraft Heinz worth $49,394,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Key Capital Management INC purchased a new position in shares of Kraft Heinz during the 4th quarter worth $29,000. New England Capital Financial Advisors LLC grew its holdings in shares of Kraft Heinz by 70.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company's stock worth $30,000 after purchasing an additional 511 shares during the period. Rakuten Securities Inc. grew its holdings in shares of Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company's stock worth $32,000 after purchasing an additional 788 shares during the period. Anfield Capital Management LLC boosted its position in shares of Kraft Heinz by 256.7% during the 3rd quarter. Anfield Capital Management LLC now owns 1,270 shares of the company's stock worth $33,000 after purchasing an additional 914 shares during the period. Finally, Sentry Investment Management LLC purchased a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $38,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on KHC shares. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kraft Heinz from $20.00 to $22.00 and gave the stock a "hold" rating in a research report on Thursday, May 7th. Piper Sandler lowered their target price on Kraft Heinz from $24.00 to $23.00 and set a "neutral" rating for the company in a report on Thursday, May 7th. The Goldman Sachs Group set a $23.00 target price on Kraft Heinz in a report on Thursday, February 12th. Weiss Ratings restated a "sell (d)" rating on shares of Kraft Heinz in a report on Tuesday, April 21st. Finally, Sanford C. Bernstein raised their price target on shares of Kraft Heinz from $24.00 to $27.00 and gave the company a "market perform" rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $23.06.

Insider Activity

In other news, insider Cory Onell sold 9,045 shares of Kraft Heinz stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $24.61, for a total transaction of $222,597.45. Following the completion of the sale, the insider directly owned 202,454 shares of the company's stock, valued at approximately $4,982,392.94. The trade was a 4.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company's stock.

Kraft Heinz Stock Performance

Shares of KHC opened at $23.28 on Wednesday. The stock has a 50-day simple moving average of $22.61 and a 200-day simple moving average of $23.70. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.20. The stock has a market capitalization of $27.60 billion, a PE ratio of -4.79 and a beta of 0.06. Kraft Heinz Company has a 1 year low of $21.03 and a 1 year high of $29.19.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The business had revenue of $6.05 billion during the quarter, compared to analysts' expectations of $5.89 billion. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 23.05%.The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the business posted $0.62 EPS. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, analysts predict that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, June 5th. Kraft Heinz's dividend payout ratio (DPR) is presently -32.92%.

Kraft Heinz Company 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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