The Manufacturers Life Insurance Company Sells 12,452 Shares of Kraft Heinz Company $KHC

Key Points

• The Manufacturers Life Insurance Company reduced its holdings in Kraft Heinz Company by 2.3%, selling 12,452 shares and valuing its remaining stake at approximately $15.77 million.
• Kraft Heinz reported $0.69 earnings per share for its latest quarter, exceeding expectations of $0.64 and registering revenue of $6.35 billion, which was slightly above estimates.
• The company has declared a quarterly dividend of $0.40 per share, with an annual yield of 5.9%, scheduled to be paid on September 26th, following an ex-dividend date on August 29th.

The Manufacturers Life Insurance Company trimmed its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.3% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 518,144 shares of the company's stock after selling 12,452 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Kraft Heinz were worth $15,767,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in KHC. Klingenstein Fields & Co. LP lifted its position in shares of Kraft Heinz by 4.6% during the 1st quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company's stock worth $239,000 after buying an additional 344 shares during the last quarter. Laird Norton Wetherby Wealth Management LLC increased its holdings in Kraft Heinz by 4.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock worth $307,000 after purchasing an additional 386 shares in the last quarter. Meeder Advisory Services Inc. increased its holdings in Kraft Heinz by 2.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company's stock worth $459,000 after purchasing an additional 393 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Kraft Heinz by 1.6% in the first quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company's stock valued at $779,000 after buying an additional 397 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Kraft Heinz by 0.6% in the first quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company's stock valued at $2,101,000 after buying an additional 397 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Trading Down 1.9%

Shares of NASDAQ KHC traded down $0.52 during midday trading on Monday, reaching $26.77. The company had a trading volume of 12,657,359 shares, compared to its average volume of 12,644,473. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.31. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The firm's fifty day moving average price is $27.46 and its 200-day moving average price is $28.20. The stock has a market cap of $31.69 billion, a PE ratio of -5.96, a price-to-earnings-growth ratio of 3.18 and a beta of 0.23.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.05. The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The firm's quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.78 EPS. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. On average, equities research analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.60 annualized dividend and a dividend yield of 6.0%. Kraft Heinz's dividend payout ratio is -35.63%.

Insider Buying and Selling at Kraft Heinz

In related news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at $1,116,400. This represents a 38.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.35% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Hsbc Global Res raised Kraft Heinz to a "hold" rating in a research note on Friday, August 1st. Wells Fargo & Company decreased their target price on Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 3rd. 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 report on Wednesday, September 3rd. Mizuho set a $29.00 price objective on Kraft Heinz and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Finally, UBS Group set a $28.00 target price on Kraft Heinz and gave the company a "neutral" rating in a report on Thursday. Seventeen research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and an average price target of $29.76.

About Kraft Heinz

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.