CIBC Asset Management Inc Acquires 90,062 Shares of Kraft Heinz Company $KHC

CIBC Asset Management Inc increased its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 25.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 444,526 shares of the company’s stock after buying an additional 90,062 shares during the period. CIBC Asset Management Inc’s holdings in Kraft Heinz were worth $10,780,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of KHC. Vanguard Group Inc. grew its holdings in Kraft Heinz by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 102,933,219 shares of the company’s stock valued at $2,496,131,000 after purchasing an additional 616,283 shares during the period. Invesco Ltd. grew its holdings in Kraft Heinz by 1.5% during the third quarter. Invesco Ltd. now owns 17,855,352 shares of the company’s stock valued at $464,953,000 after purchasing an additional 270,678 shares during the period. Nordea Investment Management AB grew its holdings in Kraft Heinz by 0.8% during the fourth quarter. Nordea Investment Management AB now owns 13,801,453 shares of the company’s stock valued at $336,134,000 after purchasing an additional 106,970 shares during the period. Norges Bank acquired a new position in Kraft Heinz during the fourth quarter valued at approximately $332,382,000. Finally, Bank of New York Mellon Corp grew its holdings in Kraft Heinz by 15.3% during the fourth quarter. Bank of New York Mellon Corp now owns 8,802,220 shares of the company’s stock valued at $213,454,000 after purchasing an additional 1,167,964 shares during the period. 78.17% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on KHC shares. Morgan Stanley set a $22.00 price objective on shares of Kraft Heinz in a report on Thursday, April 23rd. Barclays boosted their price objective on shares of Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a report on Thursday, February 12th. Wall Street Zen cut shares of Kraft Heinz from a “buy” rating to a “hold” rating in a report on Sunday, May 31st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Kraft Heinz from $20.00 to $22.00 and gave the company a “hold” rating in a report on Thursday, May 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Kraft Heinz in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $22.69.

Key Headlines Impacting Kraft Heinz

Here are the key news stories impacting Kraft Heinz this week:

• Positive Sentiment: Jim Cramer said he has “faith” in Kraft Heinz CEO Steve, which may help improve sentiment by signaling confidence in management and the company’s turnaround prospects. Jim Cramer on Kraft Heinz CEO: “I Have Faith in Steve”
• Positive Sentiment: Unusual call-option activity suggests some traders are positioning for a rebound, which can sometimes signal renewed speculative interest in the shares. Unusual trading in Kraft Heinz call options after CEO interview – Is KHC stock a buy?
• Neutral Sentiment: The company’s recent earnings were generally solid, with Kraft Heinz beating EPS and revenue estimates last month, but the stock has still struggled to hold momentum afterward. Kraft Heinz stock/earnings overview
• Negative Sentiment: Bernstein downgraded Kraft Heinz to Underperform/Sell and lowered its price target, reinforcing worries that the shares could have more downside ahead. Kraft Heinz was downgraded to a Sell Rating at Bernstein
• Negative Sentiment: Articles focused on the stock being down since its last earnings report highlight weakening momentum and investor concern that the post-earnings rally has faded. Why Is Kraft Heinz (KHC) Down 5% Since Last Earnings Report?
• Negative Sentiment: Management commentary on “negative cash flows” among lower-income consumers points to softer demand for packaged foods if stressed households keep pulling back on spending. Running out of money: Kraft, McDonald’s, Whirlpool CEOs all issue same dire warning about US consumers

Kraft Heinz Stock Performance

NASDAQ KHC opened at $22.58 on Friday. The firm’s fifty day moving average price is $22.91 and its two-hundred day moving average price is $23.63. Kraft Heinz Company has a 1 year low of $21.03 and a 1 year high of $29.19. The firm has a market capitalization of $26.77 billion, a P/E ratio of -4.65 and a beta of 0.08. 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 released its quarterly earnings data on Wednesday, May 6th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate 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 for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 EPS. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. As a group, research analysts anticipate that Kraft Heinz Company will post 2.07 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 7.1%. Kraft Heinz’s payout ratio is currently -32.92%.

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.