Rayburn West Financial Services LLC Acquires New Position in Kraft Heinz Company $KHC

Rayburn West Financial Services LLC purchased a new stake in Kraft Heinz Company (NASDAQ:KHC) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 41,340 shares of the company’s stock, valued at approximately $976,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC purchased a new stake in Kraft Heinz in the 1st quarter valued at $207,000. Woodline Partners LP boosted its holdings in Kraft Heinz by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock valued at $2,243,000 after purchasing an additional 20,690 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Kraft Heinz by 16.6% in the 2nd 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 during the period. The Manufacturers Life Insurance Company grew its stake in shares of Kraft Heinz by 0.8% in the 2nd 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 during the period. Finally, HUB Investment Partners LLC acquired a new stake in shares of Kraft Heinz during the 2nd quarter worth approximately $207,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. TD Cowen lifted their price target on shares of Kraft Heinz from $20.00 to $22.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Evercore set a $24.00 target price on Kraft Heinz in a research note on Thursday, August 6th. Sanford C. Bernstein downgraded Kraft Heinz from a “market perform” rating to an “underperform” rating and reduced their target price for the company from $25.00 to $21.00 in a research report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their price target on Kraft Heinz from $21.00 to $22.00 and gave the company an “underweight” rating in a research note on Wednesday, July 15th. Finally, UBS Group raised their price objective on Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average target price of $23.62.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, insider Diana Frost sold 18,502 shares of the business’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 sale, the insider directly owned 102,667 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.24% of the stock is owned by company insiders.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $24.82 on Wednesday. Kraft Heinz Company has a fifty-two week low of $21.03 and a fifty-two week high of $28.10. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.06. The company has a 50 day moving average price of $24.91 and a 200 day moving average price of $23.84. The stock has a market capitalization of $29.43 billion, a P/E ratio of -8.68 and a beta of 0.08.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.18 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%.The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.69 earnings per share. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Equities research analysts forecast that Kraft Heinz Company will post 2.06 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.4%. The ex-dividend date of this dividend is Friday, September 4th. Kraft Heinz’s payout ratio is currently -55.94%.

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.