Kraft Heinz Company $KHC Shares Bought by Allstate Corp

Allstate Corp grew its position in Kraft Heinz Company (NASDAQ:KHC) by 94.3% in the fourth quarter, HoldingsChannel reports. The fund owned 66,382 shares of the company’s stock after acquiring an additional 32,225 shares during the quarter. Allstate Corp’s holdings in Kraft Heinz were worth $1,610,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of KHC. Life Cycle Investment Partners Ltd acquired a new position in shares of Kraft Heinz during the 4th quarter worth about $34,451,000. SG Americas Securities LLC raised its position in shares of Kraft Heinz by 2,264.5% during the 4th quarter. SG Americas Securities LLC now owns 1,458,451 shares of the company’s stock worth $35,367,000 after purchasing an additional 1,396,770 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Kraft Heinz by 112.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,491,597 shares of the company’s stock valued at $64,872,000 after acquiring an additional 1,317,201 shares in the last quarter. Swiss Life Asset Management Ltd grew its stake in Kraft Heinz by 148.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,168,874 shares of the company’s stock valued at $52,595,000 after acquiring an additional 1,295,688 shares in the last quarter. Finally, Victory Capital Management Inc. grew its stake in Kraft Heinz by 77.5% during the 3rd quarter. Victory Capital Management Inc. now owns 2,826,152 shares of the company’s stock valued at $73,593,000 after acquiring an additional 1,234,078 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In related news, insider Cory Onell sold 9,045 shares of the firm’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 completion of the transaction, the insider directly owned 202,454 shares of the company’s stock, valued at approximately $4,982,392.94. This trade represents a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a 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 Stock Performance

Shares of NASDAQ:KHC opened at $24.01 on Friday. The company has a market capitalization of $28.47 billion, a price-to-earnings ratio of -4.94 and a beta of 0.06. The firm’s 50 day simple moving average is $22.76 and its 200 day simple moving average is $23.69. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.20 and a quick ratio of 0.82. Kraft Heinz Company has a fifty-two week low of $21.03 and a fifty-two week high of $29.19.

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

Kraft Heinz Dividend Announcement

The firm also recently declared 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. This represents a $1.60 annualized dividend and a dividend yield of 6.7%. The ex-dividend date of this dividend is Friday, June 5th. Kraft Heinz’s dividend payout ratio (DPR) is currently -32.92%.

Analyst Ratings Changes

Several analysts recently issued reports on KHC shares. Wells Fargo & Company dropped their price objective on shares of Kraft Heinz from $25.00 to $23.00 and set an “equal weight” rating for the company in a research note on Thursday, March 12th. Mizuho dropped their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Monday, February 23rd. BNP Paribas Exane dropped their price objective on shares of Kraft Heinz from $18.00 to $17.00 in a research note on Thursday, May 7th. TD Cowen dropped their price target on shares of Kraft Heinz from $24.00 to $20.00 and set a “hold” rating for the company in a research note on Wednesday, March 25th. Finally, Barclays increased their price target on shares of Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the stock presently 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.