SVB Wealth LLC Purchases 178,498 Shares of Kraft Heinz Company $KHC

Key Points

• SVB Wealth LLC dramatically increased its stake in Kraft Heinz during the first quarter, buying 178,498 additional shares and lifting its total holdings to 195,077 shares worth about $4.39 million.
• Kraft Heinz shares fell 3.5% to open at $22.03, near the lower end of its 52-week range, as the stock continued to trade below both its 50-day and 200-day moving averages.
• The company beat Wall Street’s latest expectations with first-quarter EPS of $0.58 on revenue of $6.05 billion, and it also announced a quarterly dividend of $0.40 per share, implying a 7.3% annualized yield.

SVB Wealth LLC grew its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 1,076.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,077 shares of the company's stock after acquiring an additional 178,498 shares during the quarter. SVB Wealth LLC's holdings in Kraft Heinz were worth $4,387,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Sterneck Capital Management LLC increased its position in Kraft Heinz by 7.3% in the first quarter. Sterneck Capital Management LLC now owns 25,126 shares of the company's stock worth $565,000 after purchasing an additional 1,702 shares during the last quarter. Arkfeld Wealth Strategies L.L.C. grew its stake in shares of Kraft Heinz by 12.2% in the 1st quarter. Arkfeld Wealth Strategies L.L.C. now owns 145,574 shares of the company's stock worth $3,204,000 after buying an additional 15,863 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of Kraft Heinz by 127.6% in the 1st quarter. SG Americas Securities LLC now owns 3,319,277 shares of the company's stock worth $74,651,000 after buying an additional 1,860,826 shares during the last quarter. Polianta Ltd raised its position in shares of Kraft Heinz by 17.2% during the 1st quarter. Polianta Ltd now owns 68,000 shares of the company's stock valued at $1,529,000 after buying an additional 10,000 shares in the last quarter. Finally, Old North State Trust LLC raised its position in shares of Kraft Heinz by 7.0% during the 4th quarter. Old North State Trust LLC now owns 9,303 shares of the company's stock valued at $226,000 after buying an additional 608 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Down 3.5%

Shares of NASDAQ KHC opened at $22.03 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.20 and a quick ratio of 0.82. The company has a market cap of $26.12 billion, a P/E ratio of -4.53 and a beta of 0.08. Kraft Heinz Company has a 1 year low of $21.03 and a 1 year high of $29.19. The firm has a 50-day simple moving average of $23.08 and a two-hundred day simple moving average of $23.48.

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

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 5th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend is Friday, June 5th. Kraft Heinz's dividend payout ratio is -32.92%.

Wall Street Analyst Weigh In

Several research analysts recently commented on KHC shares. 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. Mizuho lowered their price objective on Kraft Heinz from $27.00 to $25.00 and set a "neutral" rating for the company in a research note on Monday, February 23rd. JPMorgan Chase & Co. cut their target price on Kraft Heinz from $22.00 to $21.00 and set an "underweight" rating on the stock in a research report on Wednesday, March 25th. BTIG Research began coverage on Kraft Heinz in a report on Monday, April 13th. They set a "neutral" rating on the stock. Finally, Jefferies Financial Group lowered their price target on Kraft Heinz from $23.00 to $20.00 and set a "hold" rating for the company in a research report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Hold rating and five have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and an average target price of $22.69.

Insider Buying and Selling

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

Kraft Heinz 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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