Bank of New York Mellon Corp Sells 1,762,509 Shares of Kraft Heinz Company $KHC

Bank of New York Mellon Corp cut its position in Kraft Heinz Company (NASDAQ:KHC) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,039,711 shares of the company’s stock after selling 1,762,509 shares during the quarter. Bank of New York Mellon Corp’s holdings in Kraft Heinz were worth $158,323,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Kraft Heinz by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 102,933,219 shares of the company’s stock worth $2,496,131,000 after acquiring an additional 616,283 shares in the last quarter. Swiss Life Asset Management Ltd raised its position in Kraft Heinz by 148.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 2,168,874 shares of the company’s stock valued at $52,595,000 after purchasing an additional 1,295,688 shares in the last quarter. Westhampton Capital LLC bought a new stake in Kraft Heinz during the fourth quarter worth about $1,222,000. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Kraft Heinz by 14.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,224,052 shares of the company’s stock worth $78,183,000 after purchasing an additional 397,329 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Kraft Heinz by 322.0% during the 4th quarter. KBC Group NV now owns 916,485 shares of the company’s stock valued at $22,224,000 after purchasing an additional 699,290 shares during the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Shares of KHC stock opened at $25.88 on Monday. The firm has a market cap of $30.69 billion, a P/E ratio of -5.33 and a beta of 0.09. Kraft Heinz Company has a fifty-two week low of $21.03 and a fifty-two week high of $29.19. The business’s 50 day moving average price is $23.91 and its 200-day moving average price is $23.52. 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 (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.08. The company had revenue of $6.05 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.62 earnings per share. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, equities research analysts anticipate that Kraft Heinz Company will post 2.07 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 6.2%. Kraft Heinz’s payout ratio is -32.92%.

Analyst Upgrades and Downgrades

KHC has been the topic of several recent research reports. TD Cowen reduced their target price on shares of Kraft Heinz from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, March 25th. UBS Group upped their price target on shares of Kraft Heinz from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday. Wells Fargo & Company raised their price objective on Kraft Heinz from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. Wall Street Zen raised Kraft Heinz from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Finally, Morgan Stanley set a $22.00 target price on Kraft Heinz in a report on Thursday, April 23rd. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $23.12.

Insiders Place Their Bets

In other news, insider Diana Frost sold 18,502 shares of the firm’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 owned 102,667 shares of the company’s stock, valued at $2,366,474.35. This trade represents a 15.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.24% of the stock is currently owned by insiders.

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.