Ritholtz Wealth Management Raises Position in Kraft Heinz Company $KHC

Ritholtz Wealth Management boosted its position in Kraft Heinz Company (NASDAQ:KHC) by 194.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,745 shares of the company’s stock after purchasing an additional 32,206 shares during the period. Ritholtz Wealth Management’s holdings in Kraft Heinz were worth $1,269,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. raised its stake in shares of Kraft Heinz by 172.4% in the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock valued at $32,000 after buying an additional 788 shares during the period. Cape Investment Advisory Inc. increased its holdings in Kraft Heinz by 164.7% in the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after acquiring an additional 807 shares during the last quarter. Mid American Wealth Advisory Group Inc. purchased a new stake in Kraft Heinz in the 2nd quarter worth about $39,000. Hilltop National Bank bought a new stake in Kraft Heinz in the 2nd quarter valued at about $41,000. Finally, Albion Financial Group UT purchased a new stake in Kraft Heinz during the third quarter valued at about $43,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Down 2.9%

Shares of NASDAQ:KHC opened at $23.53 on Monday. The firm has a fifty day moving average price of $24.45 and a two-hundred day moving average price of $25.82. The company has a market cap of $27.85 billion, a price-to-earnings ratio of -6.31 and a beta of 0.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.73. Kraft Heinz Company has a one year low of $22.91 and a one year high of $33.35.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.04. The firm had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.27 billion. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The business’s quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Kraft Heinz has set its FY 2025 guidance at 2.500-2.57 EPS. Analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 26th. Stockholders of record on Friday, November 28th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date was Friday, November 28th. Kraft Heinz’s dividend payout ratio (DPR) is -42.90%.

Insider Activity at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the transaction, the insider directly owned 686,817 shares in the company, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.35% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the subject of several recent research reports. Mizuho reduced their target price on shares of Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating for the company in a research note on Tuesday, October 28th. Wells Fargo & Company reduced their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. UBS Group lowered their target price on shares of Kraft Heinz from $25.00 to $24.00 and set a “neutral” rating on the stock in a report on Wednesday. Jefferies Financial Group restated a “hold” rating on shares of Kraft Heinz in a research report on Tuesday, December 16th. Finally, Barclays cut their price target on Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus price target of $26.42.

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.