Kraft Heinz Company $KHC Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its stake in Kraft Heinz Company (NASDAQ:KHC) by 19.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 327,136 shares of the company’s stock after selling 80,145 shares during the quarter. Corebridge Financial Inc.’s holdings in Kraft Heinz were worth $9,955,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rossby Financial LCC acquired a new stake in shares of Kraft Heinz in the 1st quarter worth $29,000. Wayfinding Financial LLC acquired a new stake in shares of Kraft Heinz in the 1st quarter worth $33,000. Investment Management Corp VA ADV increased its stake in shares of Kraft Heinz by 141.7% in 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 during the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of Kraft Heinz in the 4th quarter worth $38,000. Finally, Abound Wealth Management increased its stake in shares of Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock worth $38,000 after acquiring an additional 1,157 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $27.89 on Thursday. The business has a 50-day moving average of $27.26 and a 200 day moving average of $28.31. Kraft Heinz Company has a 12 month low of $25.44 and a 12 month high of $36.53. The stock has a market capitalization of $33.01 billion, a price-to-earnings ratio of -6.21, a price-to-earnings-growth ratio of 3.23 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The company had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period last year, the business posted $0.78 EPS. Kraft Heinz’s revenue for the quarter was down 1.9% on a year-over-year basis. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. As a group, sell-side analysts forecast 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. Investors of record on Friday, August 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date is Friday, August 29th. Kraft Heinz’s dividend payout ratio (DPR) is -35.63%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on KHC shares. DZ Bank downgraded Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 target price for the company. in a research note on Friday, May 9th. Wells Fargo & Company raised their target price on Kraft Heinz from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Monday, July 14th. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a “neutral” rating in a research report on Wednesday, May 28th. The Goldman Sachs Group raised Kraft Heinz from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Finally, UBS Group raised their price objective on Kraft Heinz from $29.00 to $30.00 and gave the stock a “neutral” rating in a research report on Thursday, July 31st. Sixteen equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Reduce” and an average target price of $30.12.

Insider Buying and Selling

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

Kraft Heinz Profile

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.