State Street Corp Has $1.10 Billion Stock Position in Kraft Heinz Company $KHC

Key Points

• State Street reduced its Kraft Heinz stake by 0.2% in the second quarter, selling 101,835 shares but retaining 46.38 million shares valued at approximately $1.10 billion. Institutional investors and hedge funds own 78.17% of the company.
• Analyst sentiment remains cautious, with one Buy, eleven Hold, and five Sell ratings. Kraft Heinz has an average rating of “Reduce” and a consensus price target of $23.88.
• Kraft Heinz exceeded quarterly earnings and revenue expectations, reporting $0.56 in adjusted EPS and $6.26 billion in revenue, though sales declined 1.4% year over year. The company declared a quarterly dividend of $0.40, representing a 6.7% annualized yield.

State Street Corp reduced its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 0.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,379,119 shares of the company's stock after selling 101,835 shares during the period. State Street Corp owned 3.91% of Kraft Heinz worth $1,095,475,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Talon Private Wealth LLC acquired a new stake in shares of Kraft Heinz in the 2nd quarter valued at approximately $204,000. Core Capital Management & Research inc. acquired a new stake in Kraft Heinz in the second quarter worth $8,517,000. The Manufacturers Life Insurance Company boosted its position in shares of Kraft Heinz by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 561,627 shares of the company's stock worth $13,266,000 after purchasing an additional 57,092 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Kraft Heinz by 6.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 65,543 shares of the company's stock valued at $1,548,000 after buying an additional 4,073 shares during the period. Finally, Van Hulzen Asset Management LLC grew its holdings in shares of Kraft Heinz by 5.6% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 10,029 shares of the company's stock valued at $237,000 after buying an additional 529 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the company. TD Cowen reaffirmed a "hold" rating and set a $22.00 price objective on shares of Kraft Heinz in a research note on Tuesday. Barclays increased their price target on Kraft Heinz from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Friday, August 7th. Sanford C. Bernstein lowered Kraft Heinz from a "market perform" rating to an "underperform" rating and dropped their price target for the stock from $25.00 to $21.00 in a research report on Wednesday, June 3rd. Evercore set a $24.00 price objective on Kraft Heinz in a report on Thursday, August 6th. Finally, Wells Fargo & Company boosted their price objective on Kraft Heinz from $23.00 to $25.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Buy rating, eleven have issued a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $23.88.

Kraft Heinz Stock Performance

KHC opened at $24.00 on Wednesday. The business's 50-day simple moving average is $25.39 and its 200 day simple moving average is $23.97. Kraft Heinz Company has a 52-week low of $21.03 and a 52-week high of $28.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.06. The firm has a market capitalization of $28.46 billion, a PE ratio of -8.39, a PEG ratio of 2.99 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly 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 positive return on equity of 7.10% and a negative net margin of 13.64%.The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.18 billion. During the same period last year, the company earned $0.69 earnings per share. The business's revenue was down 1.4% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. As a group, sell-side analysts expect that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, September 4th. Kraft Heinz's dividend payout ratio (DPR) is -55.94%.

Kraft Heinz Company Profile

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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