On September 26, 2023, it was reported that financial management company Hennessy Advisors Inc. had reduced its stake in The Kraft Heinz Company by 5.4% during the second quarter of the year. This information was disclosed in the company’s most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 137,900 shares of Kraft Heinz stock after selling 7,900 shares during this period. The value of Hennessy Advisors Inc.’s holdings in Kraft Heinz amounted to approximately $4,895,000 at the end of the quarter.
The Kraft Heinz Company announced its earnings results for the last quarter on August 2nd, 2023. During this period, the company reported earnings per share of $0.79, surpassing the consensus estimate of $0.74 by $0.05. However, its revenue for the quarter was slightly lower than analyst estimates at $6.72 billion as compared to an expected $6.80 billion figure. Nevertheless, Kraft Heinz experienced a positive year-over-year revenue growth rate of 2.5%. Additionally, it achieved a net margin of 11.65% and a return on equity (ROE) of 7.45%. In comparison to the previous year’s corresponding period, EPS increased from $0.70 to $0.79 for this quarter.
Analysts offer mixed opinions on Kraft Heinz’s current position in the market sector. StockNews.com recently initiated coverage on Kraft Heinz with a “hold” rating on its stock while TD Cowen assigned both a “market perform” rating and a price target of $35.00 per share on September 13th, 2023. Similarly, HSBC issued a “hold” rating along with a price target of $38.00 per share shortly thereafter.
In contrast to these more cautious assessments, Morgan Stanley revised their price target downward from $44.00 to $39.00 in a research report released on June 14th, 2023. Barclays followed suit by lowering its price target from $40.00 to $38.00 and assigning an “equal weight” rating on July 20th, 2023. Overall, out of all the analysts surveyed by Bloomberg.com, one suggested a sell rating while ten recommended holding the stock and three advised buying it. Hence, the consensus rating for Kraft Heinz is currently labeled as “Hold” with an average price target of around $41.73 per share.
As the year progresses, investors and market participants will eagerly await The Kraft Heinz Company’s financial performance for potential indicators of its future trajectory in the consumer goods industry.
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Adjustments to Positions in Kraft Heinz Company by Hedge Funds and Institutional Investors
September 26, 2023 – Hedge funds and institutional investors continue to make adjustments to their positions in Kraft Heinz Company (KHC), as reported by various sources. WealthPLAN Partners LLC recently acquired a new position in KHC shares during the first quarter, with a value of $25,000. Ancora Advisors LLC also increased its holdings in the company by 69.9% during the same period, now owning 661 shares valued at $26,000. Furthermore, Heritage Wealth Management LLC purchased a new position worth $29,000 in the fourth quarter while Sound Income Strategies LLC raised its holdings by 436.2% in the second quarter, totaling 740 shares worth $26,000. Lastly, ST Germain D J Co. Inc. bought a new position amounting to $30,000 during the fourth quarter. It is noteworthy that hedge funds and institutional investors hold approximately 75.39% of KHC’s stock.
On Tuesday, NASDAQ:KHC opened at $34.32 per share. The company currently has a debt-to-equity ratio of 0.39 and showcases a current ratio of 0.95 as well as a quick ratio of 0.50. With a market capitalization of $42.16 billion and a price-to-earnings ratio of 13.41, KHC is considered an attractive investment opportunity for many entities looking to buy into this sector.
Since reaching its one-year high of $42.80 last year, Kraft Heinz stock has experienced some fluctuation over the past few months due to multiple factors affecting market performance across various industries worldwide.
Several analysts have shared their insights on KHC shares recently based on detailed research reports and observations from key industry insiders. StockNews.com initiated coverage on Kraft Heinz with a “hold” rating on August 17th while TD Cowen gave it a “market perform” rating and set a price target of $35.00 on September 13th. HSBC also started coverage on KHC with a “hold” rating and established a price target of $38.00.
Morgan Stanley recently lowered its price target for KHC from $44.00 to $39.00 in their research report on June 14th, while Barclays decreased its price target from $40.00 to $38.00 and assigned an “equal weight” rating to the stock on July 20th. In total, there are ten analysts who have issued a hold rating, one analyst who has issued a sell rating, and three analysts who have assigned a buy rating to the stock.
Furthermore, Kraft Heinz announced that it will be paying its quarterly dividend on Friday, September 29th. Shareholders of record as of Friday, September 1st will receive a dividend of $0.40 per share. This represents an annualized dividend of $1.60 and yields approximately 4.66%. The payout ratio for KHC stands at 62.50%.
In other news related to the company, Chief Accounting Officer Lande Rashida La sold 16,453 shares of Kraft Heinz stock on Monday, August 7th at an average price of $35.07 per share resulting in a total value of $577,006.71 for the transaction. Following the sale, La now holds approximately 206,243 shares valued at around $7,232,942.01.
As per regulations prescribed by the Securities and Exchange Commission (SEC), this sale was fully disclosed in official documents accessible through their website’s hyperlink connection feature.
It is important to acknowledge that currently company insiders own approximately 1.40% of Kraft Heinz’s outstanding stock.
Kraft Heinz Company continues its operations within the food processing industry with notable brands such as Kraft Macaroni & Cheese, Heinz Tomato Ketchup, Grey Poupon, and Oscar Mayer. The company strives to meet consumers’ needs by providing high-quality products whilst continuously adapting to market conditions and consumer preferences.
