Intech Investment Management LLC Sells 98,791 Shares of Kraft Heinz Company $KHC

Intech Investment Management LLC trimmed its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 56.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,693 shares of the company’s stock after selling 98,791 shares during the quarter. Intech Investment Management LLC’s holdings in Kraft Heinz were worth $2,273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in KHC. Vanguard Group Inc. raised its holdings in shares of Kraft Heinz by 12.7% during the first quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company’s stock worth $3,103,277,000 after acquiring an additional 11,472,071 shares during the period. Pacer Advisors Inc. raised its holdings in shares of Kraft Heinz by 4,390.7% during the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company’s stock worth $226,523,000 after acquiring an additional 7,278,295 shares during the period. Nuveen LLC acquired a new stake in shares of Kraft Heinz during the first quarter worth $61,110,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Kraft Heinz by 22.1% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 10,480,889 shares of the company’s stock worth $318,933,000 after acquiring an additional 1,895,722 shares during the period. Finally, Worldquant Millennium Advisors LLC raised its holdings in shares of Kraft Heinz by 1,830.2% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 1,936,367 shares of the company’s stock worth $59,466,000 after acquiring an additional 1,836,048 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Trading Down 1.9%

Shares of NASDAQ KHC opened at $25.63 on Tuesday. 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 Company has a 52-week low of $25.44 and a 52-week high of $36.31. The firm has a 50 day moving average price of $27.46 and a two-hundred day moving average price of $28.00. The stock has a market cap of $30.34 billion, a P/E ratio of -5.71, a price-to-earnings-growth ratio of 3.05 and a beta of 0.23.

Kraft Heinz (NASDAQ:KHC) last announced 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. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue 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, equities analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.2%. The ex-dividend date is Friday, August 29th. Kraft Heinz’s dividend payout ratio is -35.63%.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the company’s stock in a transaction that occurred on 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 directly owned 40,000 shares in the company, valued at approximately $1,116,400. This represents a 38.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group set a $28.00 price target on shares of Kraft Heinz and gave the company a “neutral” rating in a research note on Thursday, September 4th. The Goldman Sachs Group upgraded shares of Kraft Heinz from a “sell” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Wells Fargo & Company lowered their price target on shares of Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 3rd. Stifel Nicolaus lowered their price target on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. started coverage on shares of Kraft Heinz in a research note on Wednesday, August 20th. They set a “neutral” rating and a $27.00 price objective on the stock. Seventeen investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $29.76.

Kraft Heinz Company 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.