Kraft Heinz Company $KHC Shares Acquired by OLD National Bancorp IN

OLD National Bancorp IN raised its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 45.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 392,975 shares of the company’s stock after purchasing an additional 122,270 shares during the period. OLD National Bancorp IN’s holdings in Kraft Heinz were worth $10,147,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. 111 Capital acquired a new position in shares of Kraft Heinz during the second quarter worth $315,000. Stock Yards Bank & Trust Co. grew its holdings in shares of Kraft Heinz by 13.4% during the second quarter. Stock Yards Bank & Trust Co. now owns 9,771 shares of the company’s stock valued at $252,000 after buying an additional 1,156 shares during the last quarter. Ameritas Advisory Services LLC grew its holdings in shares of Kraft Heinz by 5.1% during the second quarter. Ameritas Advisory Services LLC now owns 28,083 shares of the company’s stock valued at $725,000 after buying an additional 1,373 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of Kraft Heinz during the second quarter valued at $230,000. Finally, Abundance Wealth Counselors grew its holdings in shares of Kraft Heinz by 6.7% during the second quarter. Abundance Wealth Counselors now owns 51,463 shares of the company’s stock valued at $1,329,000 after buying an additional 3,231 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. UBS Group set a $28.00 price objective on shares of Kraft Heinz and gave the company a “neutral” rating in a report on Thursday, September 4th. The Goldman Sachs Group raised shares of Kraft Heinz from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. JPMorgan Chase & Co. assumed coverage on shares of Kraft Heinz in a report on Wednesday, August 20th. They set a “neutral” rating and a $27.00 price objective on the stock. Morgan Stanley set a $29.00 price objective on shares of Kraft Heinz and gave the company an “equal weight” rating in a report on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a report on Saturday, September 27th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $29.76.

Kraft Heinz Trading Down 0.0%

KHC stock opened at $26.06 on Friday. The company’s 50-day simple moving average is $27.02 and its 200-day simple moving average is $27.56. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. Kraft Heinz Company has a 52-week low of $25.35 and a 52-week high of $36.31. The firm has a market cap of $30.84 billion, a P/E ratio of -5.80, a PEG ratio of 3.04 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.05. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. As a group, equities analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend was Friday, August 29th. Kraft Heinz’s dividend payout ratio is presently -35.63%.

Insider Activity

In other news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $27.91, for a total transaction of $697,750.00. Following the sale, the director directly owned 40,000 shares of the company’s stock, valued at $1,116,400. This represents a 38.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.35% of the stock is currently owned by insiders.

Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.