Sumitomo Mitsui Trust Group Inc. Sells 145,197 Shares of Kraft Heinz Company $KHC

Key Points

• Sumitomo Mitsui Trust Group reduced its Kraft Heinz stake by 5.4% in the first quarter, selling 145,197 shares and leaving it with 2,561,056 shares worth about $57.6 million.
• Kraft Heinz reported better-than-expected quarterly results, posting EPS of $0.58 versus estimates of $0.50 and revenue of $6.05 billion versus $5.89 billion expected.
• The company also paid a quarterly dividend of $0.40 per share, implying an annualized yield of 6.4%, while analysts currently hold a consensus rating of “Reduce” with an average price target of $23.00.

Sumitomo Mitsui Trust Group Inc. trimmed its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 5.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,561,056 shares of the company's stock after selling 145,197 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.22% of Kraft Heinz worth $57,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KHC. Vanguard Group Inc. lifted its stake in Kraft Heinz by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 102,933,219 shares of the company's stock valued at $2,496,131,000 after purchasing an additional 616,283 shares during the last quarter. Invesco Ltd. increased its position in Kraft Heinz by 10.5% during the fourth quarter. Invesco Ltd. now owns 19,725,662 shares of the company's stock worth $478,347,000 after buying an additional 1,870,310 shares during the last quarter. Auto Owners Insurance Co raised its stake in Kraft Heinz by 3,034.1% in the fourth quarter. Auto Owners Insurance Co now owns 16,477,002 shares of the company's stock valued at $39,957,000 after buying an additional 15,951,271 shares during the period. Nordea Investment Management AB lifted its position in shares of Kraft Heinz by 0.8% in the fourth quarter. Nordea Investment Management AB now owns 13,801,453 shares of the company's stock valued at $336,134,000 after buying an additional 106,970 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at approximately $332,382,000. Institutional investors own 78.17% of the company's stock.

Insiders Place Their Bets

In other Kraft Heinz news, insider Diana Frost sold 18,502 shares of the stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $23.05, for a total transaction of $426,471.10. Following the sale, the insider directly owned 102,667 shares in the company, valued at $2,366,474.35. This represents a 15.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

Kraft Heinz Price Performance

Shares of KHC stock traded up $0.17 during trading on Friday, hitting $24.85. The company had a trading volume of 6,687,788 shares, compared to its average volume of 12,475,881. The firm has a market capitalization of $29.47 billion, a P/E ratio of -5.11 and a beta of 0.09. Kraft Heinz Company has a one year low of $21.03 and a one year high of $29.19. 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's 50-day moving average price is $23.67 and its 200 day moving average price is $23.47.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.08. The firm had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.89 billion. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 23.05%.The company's revenue was up .8% on a year-over-year basis. During the same quarter last year, the company earned $0.62 EPS. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. Equities analysts expect that Kraft Heinz Company will post 2.07 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Friday, June 5th. Kraft Heinz's payout ratio is -32.92%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Morgan Stanley set a $22.00 price objective on shares of Kraft Heinz in a research report on Thursday, April 23rd. Wall Street Zen raised shares of Kraft Heinz from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Zacks Research upgraded shares of Kraft Heinz from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 21st. Piper Sandler boosted their price objective on Kraft Heinz from $23.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, June 25th. Finally, Jefferies Financial Group lowered their target price on Kraft Heinz from $23.00 to $20.00 and set a "hold" rating on the stock in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average target price of $23.00.

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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