Fifth Third Bancorp Has $534,000 Stake in Kraft Heinz Company $KHC

Fifth Third Bancorp decreased its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 30.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,701 shares of the company’s stock after selling 8,866 shares during the quarter. Fifth Third Bancorp’s holdings in Kraft Heinz were worth $534,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Rossby Financial LCC bought a new position in Kraft Heinz during the 1st quarter worth $29,000. Wayfinding Financial LLC bought a new position in Kraft Heinz during the 1st quarter worth $33,000. Investment Management Corp VA ADV raised its position in 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 purchasing an additional 669 shares during the last quarter. Abound Wealth Management raised its position in Kraft Heinz by 1,157.0% during the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock worth $38,000 after purchasing an additional 1,157 shares during the last quarter. Finally, Banque Transatlantique SA bought a new position in Kraft Heinz during the 1st quarter worth $40,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KHC. Stifel Nicolaus lowered their target price on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a research report on Wednesday, September 3rd. Morgan Stanley set a $29.00 price objective on Kraft Heinz and gave the stock an “equal weight” rating in a research report on Wednesday, September 3rd. The Goldman Sachs Group raised Kraft Heinz from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. JPMorgan Chase & Co. began coverage on Kraft Heinz in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $27.00 price objective for the company. Finally, UBS Group set a $28.00 price objective on Kraft Heinz and gave the stock a “neutral” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $29.76.

Kraft Heinz Price Performance

KHC stock opened at $25.70 on Tuesday. The company has a market capitalization of $30.42 billion, a P/E ratio of -5.72, a price-to-earnings-growth ratio of 3.04 and a beta of 0.23. 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 $25.35 and a 52-week high of $36.31. The business has a 50-day simple moving average of $27.24 and a two-hundred day simple moving average of $27.66.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 EPS. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. Research analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, August 29th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a yield of 6.2%. Kraft Heinz’s payout ratio is -35.63%.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz 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 owned 40,000 shares in the company, valued at approximately $1,116,400. The trade was a 38.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.