Kraft Heinz Company $KHC Shares Bought by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund raised its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 8.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 397,603 shares of the company’s stock after purchasing an additional 32,138 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Kraft Heinz were worth $9,034,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of KHC. Moneco Advisors LLC grew its holdings in Kraft Heinz by 6.0% during the third quarter. Moneco Advisors LLC now owns 20,420 shares of the company’s stock valued at $464,000 after purchasing an additional 1,152 shares during the period. 626 Financial LLC raised its stake in shares of Kraft Heinz by 5.1% in the third quarter. 626 Financial LLC now owns 24,170 shares of the company’s stock worth $549,000 after buying an additional 1,167 shares during the period. Lido Advisors LLC raised its stake in shares of Kraft Heinz by 23.4% in the third quarter. Lido Advisors LLC now owns 42,818 shares of the company’s stock worth $973,000 after buying an additional 8,133 shares during the period. Cornerstone Wealth Management LLC lifted its position in shares of Kraft Heinz by 7.0% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 56,764 shares of the company’s stock valued at $1,290,000 after buying an additional 3,693 shares in the last quarter. Finally, Csenge Advisory Group lifted its position in shares of Kraft Heinz by 76.7% during the 3rd quarter. Csenge Advisory Group now owns 65,980 shares of the company’s stock valued at $1,499,000 after buying an additional 28,637 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz News Summary

Investors following KHC have been watching these news items:

• Positive Sentiment: Kraft Heinz plans to sell its North American coffee business for about $650 million, retain a minority stake, and use most of the proceeds to reduce debt. The divestiture could simplify the business and support balance-sheet repair. Coffee Unit Sale Could Be A Big Move For Kraft Heinz Stock
• Neutral Sentiment: Third-quarter sales were $6.115 billion and net income was $544 million. The reported figures provide a snapshot of performance as the company works through its turnaround. Coffee sale and third-quarter results
• Negative Sentiment: The recovery is not expected to be immediate: Kraft Heinz anticipates flat performance in 2027 before organic sales growth resumes in the year’s second half. That timeline leaves near-term growth uncertain. Reuters report on growth outlook

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Wells Fargo & Company boosted their price objective on Kraft Heinz from $23.00 to $24.00 and gave the company an “equal weight” rating in a research note on Thursday, November 5th. TD Cowen restated a “hold” rating and set a $22.00 target price on shares of Kraft Heinz in a research note on Tuesday, September 22nd. Royal Bank Of Canada restated an “outperform” rating and set a $32.00 target price on shares of Kraft Heinz in a research note on Thursday, September 24th. Weiss Ratings downgraded shares of Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a report on Thursday, August 6th. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a $24.00 price target on shares of Kraft Heinz in a research report on Wednesday, November 4th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $23.80.

Kraft Heinz Trading Up 1.0%

Shares of Kraft Heinz stock opened at $24.51 on Friday. Kraft Heinz Company has a fifty-two week low of $21.03 and a fifty-two week high of $28.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.06. The company has a market capitalization of $29.01 billion, a P/E ratio of -8.57, a P/E/G ratio of 2.99 and a beta of 0.12. The company has a fifty day moving average of $23.88 and a 200 day moving average of $23.94.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.11. The business had revenue of $6.12 billion for the quarter, compared to analysts’ expectations of $6.09 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. On average, sell-side analysts anticipate that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 23rd. Stockholders of record on Friday, December 4th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, December 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.5%. Kraft Heinz’s dividend payout ratio is -54.79%.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) manufactures and markets food and beverage products for consumers, retailers and food-service businesses. Its portfolio includes condiments and sauces, cheese and dairy products, packaged meals, meats, snacks and beverages, sold under brands such as Heinz, Kraft, Oscar Mayer and Philadelphia. The company was formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. It serves customers in the United States and other markets around the world, with its business spanning North America and international regions.