Bank of New York Mellon Corp Has $158.32 Million Stock Holdings in Kraft Heinz Company $KHC

Bank of New York Mellon Corp lowered its stake in Kraft Heinz Company (NASDAQ:KHC) by 20.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 7,039,711 shares of the company’s stock after selling 1,762,509 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.59% of Kraft Heinz worth $158,323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Jessup Wealth Management Inc bought a new stake in Kraft Heinz in the 4th quarter valued at $27,000. Reflection Asset Management bought a new position in Kraft Heinz during the fourth quarter worth $28,000. Key Capital Management INC acquired a new position in shares of Kraft Heinz in the fourth quarter valued at $29,000. DV Equities LLC acquired a new position in shares of Kraft Heinz in the fourth quarter valued at $29,000. Finally, New England Capital Financial Advisors LLC raised its position in shares of Kraft Heinz by 70.2% in the fourth quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company’s stock valued at $30,000 after purchasing an additional 511 shares during the period. Institutional investors own 78.17% of the company’s stock.

Insiders Place Their Bets

In other news, insider Diana Frost sold 18,502 shares of the company’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $23.05, for a total transaction of $426,471.10. Following the transaction, the insider owned 102,667 shares in the company, valued at approximately $2,366,474.35. This represents a 15.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Kraft Heinz in a report on Tuesday, April 21st. BTIG Research started coverage on Kraft Heinz in a report on Monday, April 13th. They set a “neutral” rating for the company. Morgan Stanley set a $22.00 price target on Kraft Heinz in a research note on Thursday, April 23rd. JPMorgan Chase & Co. upped their price objective on Kraft Heinz from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, July 15th. Finally, Sanford C. Bernstein cut Kraft Heinz from a “market perform” rating to an “underperform” rating and lowered their price objective for the stock from $25.00 to $21.00 in a research report on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Reduce” and an average price target of $23.12.

Kraft Heinz Price Performance

Shares of KHC opened at $25.88 on Monday. The firm has a 50 day simple moving average of $23.91 and a two-hundred day simple moving average of $23.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.20 and a quick ratio of 0.82. Kraft Heinz Company has a one year low of $21.03 and a one year high of $29.19. The company has a market cap of $30.69 billion, a P/E ratio of -5.33 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. Kraft Heinz had a negative net margin of 23.05% and a positive return on equity of 7.26%. The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same period in the previous year, the firm posted $0.62 EPS. The firm’s revenue was up .8% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. Research analysts forecast that Kraft Heinz Company will post 2.07 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 6.2%. Kraft Heinz’s dividend payout ratio is -32.92%.

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.