Voya Investment Management LLC Lowers Holdings in Kraft Heinz Company $KHC

Key Points

• Voya Investment Management LLC significantly reduced its stake in Kraft Heinz Company by 73.8%, selling 533,843 shares, resulting in holdings of 189,341 shares worth approximately $5.76 million.
• In the first quarter, several institutional investors, including Abound Wealth Management, increased their positions in Kraft Heinz, with one growing holdings by over 1,157%.
• Kraft Heinz recently posted a quarterly EPS of $0.69, surpassing analysts' expectations, despite experiencing a 1.9% year-over-year decline in revenue.

Voya Investment Management LLC reduced its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 73.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 189,341 shares of the company's stock after selling 533,843 shares during the quarter. Voya Investment Management LLC's holdings in Kraft Heinz were worth $5,762,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rossby Financial LCC acquired a new position in Kraft Heinz in the first quarter valued at about $29,000. Wayfinding Financial LLC acquired a new position in Kraft Heinz during the 1st quarter worth approximately $33,000. Investment Management Corp VA ADV grew its stake in shares of Kraft Heinz by 141.7% during the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after acquiring an additional 669 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Kraft Heinz in the fourth quarter valued at approximately $38,000. Finally, Abound Wealth Management lifted its position in shares of Kraft Heinz by 1,157.0% in the first quarter. Abound Wealth Management now owns 1,257 shares of the company's stock worth $38,000 after purchasing an additional 1,157 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Price Performance

Shares of NASDAQ KHC traded down $0.04 during midday trading on Monday, reaching $26.38. 14,521,358 shares of the company were exchanged, compared to its average volume of 16,911,810. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.31. The stock's 50-day moving average price is $27.38 and its 200-day moving average price is $27.82. 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 stock has a market cap of $31.22 billion, a P/E ratio of -5.88, a PEG ratio of 3.08 and a beta of 0.23.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The firm had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company's revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. On average, sell-side analysts anticipate that Kraft Heinz Company will post 2.68 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 26th. Shareholders of record on Friday, August 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is -35.63%.

Insiders Place Their Bets

In related news, Director Elio Leoni Sceti sold 25,000 shares of the firm's 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 transaction, the director owned 40,000 shares of the company's stock, valued at approximately $1,116,400. This trade represents a 38.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.35% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on KHC shares. Wells Fargo & Company decreased their target price on shares of Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 3rd. The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Hsbc Global Res upgraded shares of Kraft Heinz to a "hold" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. began coverage on Kraft Heinz in a research note on Wednesday, August 20th. They issued a "neutral" rating and a $27.00 price objective on the stock. Finally, Morgan Stanley set a $29.00 target price on shares of Kraft Heinz and gave the stock an "equal weight" rating in a research note on Wednesday, September 3rd. Seventeen analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price 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.