Steel Grove Capital Advisors LLC Sells 49,124 Shares of Kraft Heinz Company $KHC

Steel Grove Capital Advisors LLC trimmed its position in Kraft Heinz Company (NASDAQ:KHC) by 81.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,409 shares of the company’s stock after selling 49,124 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Kraft Heinz were worth $277,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Kraft Heinz in the first quarter valued at approximately $207,000. Woodline Partners LP boosted its position in Kraft Heinz by 39.0% in the first quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock valued at $2,243,000 after buying an additional 20,690 shares in the last quarter. NewEdge Advisors LLC boosted its position in Kraft Heinz by 16.6% in the second quarter. NewEdge Advisors LLC now owns 51,222 shares of the company’s stock valued at $1,323,000 after buying an additional 7,307 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Kraft Heinz by 0.8% in the second quarter. The Manufacturers Life Insurance Company now owns 522,147 shares of the company’s stock valued at $13,482,000 after buying an additional 4,003 shares in the last quarter. Finally, HUB Investment Partners LLC acquired a new stake in Kraft Heinz in the second quarter valued at approximately $207,000. 78.17% of the stock is owned by institutional investors.

Insider Transactions at Kraft Heinz

In related news, insider Cory Onell sold 9,045 shares of the business’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $24.61, for a total value of $222,597.45. Following the transaction, the insider owned 202,454 shares in the company, valued at $4,982,392.94. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.24% of the stock is currently owned by insiders.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $24.38 on Thursday. The firm has a market cap of $28.91 billion, a PE ratio of -5.02 and a beta of 0.06. The firm’s fifty day moving average is $22.69 and its 200-day moving average is $23.68. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.82 and a current ratio of 1.20. Kraft Heinz Company has a 52 week low of $21.03 and a 52 week high of $29.19.

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

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Investors of record on Friday, June 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 6.6%. Kraft Heinz’s payout ratio is presently -32.92%.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of research analyst reports. Barclays raised their target price on shares of Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Piper Sandler cut their target price on shares of Kraft Heinz from $24.00 to $23.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley set a $22.00 target price on shares of Kraft Heinz in a research report on Thursday, April 23rd. Sanford C. Bernstein raised their target price on shares of Kraft Heinz from $24.00 to $27.00 and gave the company a “market perform” rating in a research report on Thursday, February 12th. Finally, Wall Street Zen upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating in a research report on Saturday, May 23rd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $23.06.

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.