III Capital Management Sells 30,000 Shares of Kraft Heinz Company $KHC

III Capital Management cut its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 36.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 52,779 shares of the company’s stock after selling 30,000 shares during the period. III Capital Management’s holdings in Kraft Heinz were worth $1,280,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of KHC. Ashton Thomas Private Wealth LLC bought a new position in shares of Kraft Heinz during the first quarter worth about $207,000. Woodline Partners LP grew its holdings in shares of Kraft Heinz by 39.0% during the first quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock worth $2,243,000 after buying an additional 20,690 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Kraft Heinz by 16.6% during the second quarter. NewEdge Advisors LLC now owns 51,222 shares of the company’s stock worth $1,323,000 after buying an additional 7,307 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Kraft Heinz by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 522,147 shares of the company’s stock worth $13,482,000 after buying an additional 4,003 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new position in shares of Kraft Heinz during the second quarter worth about $207,000. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on KHC shares. Morgan Stanley set a $22.00 price objective on Kraft Heinz in a report on Thursday, April 23rd. BTIG Research assumed coverage on Kraft Heinz in a research note on Monday, April 13th. They issued a “neutral” rating for the company. Mizuho decreased their price target on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. Wells Fargo & Company decreased their price target on Kraft Heinz from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Finally, Jefferies Financial Group decreased their price target on Kraft Heinz from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $22.69.

Kraft Heinz Stock Down 2.5%

KHC stock opened at $23.20 on Thursday. The company has a quick ratio of 0.82, a current ratio of 1.20 and a debt-to-equity ratio of 0.46. The business has a 50 day moving average price of $23.12 and a two-hundred day moving average price of $23.54. The company has a market cap of $27.51 billion, a price-to-earnings ratio of -4.77 and a beta of 0.08. Kraft Heinz Company has a twelve month low of $21.03 and a twelve month high of $29.19.

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

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, June 5th. Kraft Heinz’s dividend payout ratio (DPR) is presently -32.92%.

About Kraft Heinz

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.