Gabelli Funds LLC Has $7.81 Million Stake in Kraft Heinz Company $KHC

Gabelli Funds LLC boosted its position in Kraft Heinz Company (NASDAQ:KHC) by 18.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 347,400 shares of the company’s stock after purchasing an additional 53,800 shares during the period. Gabelli Funds LLC’s holdings in Kraft Heinz were worth $7,813,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in Kraft Heinz during the first quarter worth $207,000. Woodline Partners LP boosted its position in Kraft Heinz by 39.0% during the first quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock valued at $2,243,000 after acquiring an additional 20,690 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Kraft Heinz by 16.6% during the 2nd quarter. NewEdge Advisors LLC now owns 51,222 shares of the company’s stock worth $1,323,000 after acquiring an additional 7,307 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Kraft Heinz by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 522,147 shares of the company’s stock worth $13,482,000 after acquiring an additional 4,003 shares during the period. Finally, HUB Investment Partners LLC bought a new position in shares of Kraft Heinz in the 2nd quarter worth about $207,000. 78.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Evercore set a $23.00 price objective on Kraft Heinz in a research note on Thursday. Piper Sandler lifted their target price on Kraft Heinz from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, June 25th. Sanford C. Bernstein lowered Kraft Heinz from a “market perform” rating to an “underperform” rating and dropped their price target for the company from $25.00 to $21.00 in a research note on Wednesday, June 3rd. Wall Street Zen upgraded Kraft Heinz from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Finally, Morgan Stanley set a $22.00 price objective on shares of Kraft Heinz in a research report on Thursday, April 23rd. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Hold rating and five have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $23.19.

Insider Activity at Kraft Heinz

In other news, insider Diana Frost sold 18,502 shares of the stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $23.05, for a total value of $426,471.10. Following the completion of the sale, the insider directly owned 102,667 shares of the company’s stock, valued at $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 SEC, which is available through this hyperlink. 0.24% of the stock is currently owned by company insiders.

Kraft Heinz Stock Performance

KHC opened at $26.22 on Tuesday. Kraft Heinz Company has a 1-year low of $21.03 and a 1-year high of $29.19. The company has a market cap of $31.09 billion, a price-to-earnings ratio of -5.40 and a beta of 0.09. The company’s fifty day moving average price is $24.22 and its two-hundred day moving average price is $23.59. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same period last year, the company earned $0.62 earnings per share. The business’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. On average, analysts expect that Kraft Heinz Company will post 2.07 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Friday, June 5th. Kraft Heinz’s payout ratio is currently -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.