PNC Financial Services Group Inc. Buys 24,198 Shares of Kraft Heinz Company $KHC

PNC Financial Services Group Inc. lifted its stake in Kraft Heinz Company (NASDAQ:KHC) by 10.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 256,996 shares of the company’s stock after buying an additional 24,198 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Kraft Heinz were worth $6,692,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Rakuten Securities Inc. raised its stake in Kraft Heinz by 172.4% during the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after acquiring an additional 788 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of Kraft Heinz by 164.7% in the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after purchasing an additional 807 shares during the last quarter. Sentry Investment Management LLC bought a new stake in shares of Kraft Heinz in the 3rd quarter worth about $38,000. Albion Financial Group UT acquired a new stake in shares of Kraft Heinz during the 3rd quarter worth about $43,000. Finally, MV Capital Management Inc. lifted its holdings in Kraft Heinz by 300.7% during the 2nd quarter. MV Capital Management Inc. now owns 1,735 shares of the company’s stock valued at $45,000 after purchasing an additional 1,302 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 0.2%

NASDAQ KHC opened at $23.99 on Friday. The stock has a market capitalization of $28.40 billion, a P/E ratio of -4.86 and a beta of 0.08. Kraft Heinz Company has a 52 week low of $21.99 and a 52 week high of $33.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 1.15. The stock has a fifty day moving average of $23.99 and a 200-day moving average of $25.23.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.06. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.38 billion. Kraft Heinz had a positive return on equity of 7.07% and a negative net margin of 23.44%.The firm’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 earnings per share. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, equities research analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 6.7%. Kraft Heinz’s payout ratio is currently -32.39%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group set a $23.00 price objective on shares of Kraft Heinz in a research note on Thursday, February 12th. Jefferies Financial Group decreased their price target on Kraft Heinz from $24.00 to $23.00 and set a “hold” rating on the stock in a research report on Tuesday, January 20th. Barclays lifted their price objective on Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Sanford C. Bernstein increased their target price on Kraft Heinz from $24.00 to $27.00 and gave the stock a “market perform” rating in a report on Thursday, February 12th. Finally, Zacks Research lowered Kraft Heinz from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Hold rating and six have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz has a consensus rating of “Reduce” and an average target price of $25.00.

Insider Buying and Selling at Kraft Heinz

In related news, insider Miguel Patricio sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the completion of the sale, the insider directly owned 686,817 shares of the company’s stock, valued at $17,046,797.94. The trade was a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Kraft Heinz Company Profile

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.