Glenview Trust Co Purchases New Position in Kraft Heinz Company $KHC

Glenview Trust Co bought a new stake in Kraft Heinz Company (NASDAQ:KHC) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 20,066 shares of the company’s stock, valued at approximately $451,000.

Other hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Kraft Heinz in the 1st quarter valued at about $207,000. Woodline Partners LP grew its position in shares of Kraft Heinz by 39.0% during the 1st 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 during the period. NewEdge Advisors LLC raised its stake 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 during the last quarter. The Manufacturers Life Insurance Company boosted its stake 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 acquiring an additional 4,003 shares during the last quarter. Finally, HUB Investment Partners LLC bought a new stake in shares of Kraft Heinz during the 2nd quarter valued at $207,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $25.70 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $25.19 and a 200 day simple moving average of $23.93. Kraft Heinz Company has a 1-year low of $21.03 and a 1-year high of $28.09. The stock has a market capitalization of $30.48 billion, a PE ratio of -8.99 and a beta of 0.08.

Kraft Heinz (NASDAQ:KHC) last issued 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. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.18 billion. During the same period in the prior year, the firm earned $0.69 EPS. Kraft Heinz’s quarterly revenue was down 1.4% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. On average, research analysts expect that Kraft Heinz Company will post 2.06 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Friday, September 4th. Kraft Heinz’s payout ratio is currently -55.94%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. BNP Paribas Exane lifted their price objective on Kraft Heinz from $17.00 to $19.00 and gave the company an “underperform” rating in a report on Tuesday, June 30th. UBS Group lifted their price target on Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Piper Sandler upped their price objective on Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Wall Street Zen downgraded Kraft Heinz from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Weiss Ratings cut Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $23.62.

Insider Activity at Kraft Heinz

In related news, insider Diana Frost sold 18,502 shares of the business’s stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $23.05, for a total transaction of $426,471.10. Following the transaction, the insider directly owned 102,667 shares of the company’s stock, valued at approximately $2,366,474.35. The trade was a 15.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Kraft Heinz 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.