Truist Financial Corp Has $3.49 Million Stock Holdings in Kraft Heinz Company $KHC

Truist Financial Corp cut its holdings in Kraft Heinz Company (NASDAQ:KHC) by 2.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 135,026 shares of the company’s stock after selling 4,087 shares during the period. Truist Financial Corp’s holdings in Kraft Heinz were worth $3,486,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Merit Financial Group LLC increased its position in Kraft Heinz by 16.1% during the first quarter. Merit Financial Group LLC now owns 14,596 shares of the company’s stock worth $444,000 after buying an additional 2,023 shares during the last quarter. UMB Bank n.a. increased its position in Kraft Heinz by 141.0% during the first quarter. UMB Bank n.a. now owns 9,883 shares of the company’s stock worth $301,000 after buying an additional 5,783 shares during the last quarter. Park Avenue Securities LLC increased its holdings in shares of Kraft Heinz by 35.4% during the 1st quarter. Park Avenue Securities LLC now owns 26,041 shares of the company’s stock worth $792,000 after acquiring an additional 6,815 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Kraft Heinz by 58.3% during the 1st quarter. Farther Finance Advisors LLC now owns 22,111 shares of the company’s stock worth $671,000 after acquiring an additional 8,144 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Kraft Heinz by 28.1% during the 1st quarter. GAMMA Investing LLC now owns 15,794 shares of the company’s stock worth $481,000 after acquiring an additional 3,468 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Trading Down 1.3%

Shares of KHC stock opened at $25.08 on Thursday. The stock’s fifty day moving average price is $26.83 and its two-hundred day moving average price is $27.49. The company has a market cap of $29.68 billion, a PE ratio of -5.59, a P/E/G ratio of 2.97 and a beta of 0.16. Kraft Heinz Company has a fifty-two week low of $24.95 and a fifty-two week high of $36.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly 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 firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the firm posted $0.78 earnings per share. The business’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. Equities analysts predict that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date of this dividend was Friday, August 29th. Kraft Heinz’s payout ratio is currently -35.63%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. UBS Group decreased their price target on shares of Kraft Heinz from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Wednesday. The Goldman Sachs Group raised Kraft Heinz from a “sell” rating to a “neutral” rating and upped their target price for the company from $25.00 to $27.00 in a research report on Wednesday, June 25th. DZ Bank raised Kraft Heinz from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday. Finally, Hsbc Global Res upgraded shares of Kraft Heinz to a “hold” rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $29.71.

Insider Activity

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

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.