Saudi Central Bank Acquires 27,306 Shares of Kraft Heinz Company $KHC

Saudi Central Bank increased its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 83.3% during the second quarter, Holdings Channel.com reports. The firm owned 60,074 shares of the company’s stock after buying an additional 27,306 shares during the period. Saudi Central Bank’s holdings in Kraft Heinz were worth $1,419,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of KHC. BlackRock Inc. bought a new position in Kraft Heinz in the second quarter worth approximately $1,803,911,000. Auto Owners Insurance Co boosted its position in Kraft Heinz by 3,034.1% during the 4th quarter. Auto Owners Insurance Co now owns 16,477,002 shares of the company’s stock valued at $39,957,000 after acquiring an additional 15,951,271 shares in the last quarter. Norges Bank purchased a new position in shares of Kraft Heinz in the 4th quarter valued at $332,382,000. Nykredit A S bought a new position in shares of Kraft Heinz in the 2nd quarter worth $181,408,000. Finally, Deutsche Bank AG bought a new position in shares of Kraft Heinz in the 2nd quarter worth $179,876,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kraft Heinz

In other news, insider Diana Frost sold 18,502 shares of the business’s stock in a transaction on 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 directly owned 102,667 shares of the company’s stock, valued at $2,366,474.35. The trade was a 15.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.24% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC stock opened at $24.90 on Wednesday. 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 firm has a market capitalization of $29.53 billion, a price-to-earnings ratio of -8.71, a PEG ratio of 3.02 and a beta of 0.09. The stock’s 50-day simple moving average is $25.50 and its 200-day simple moving average is $23.97.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.53 by $0.03. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.18 billion. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. Kraft Heinz’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the firm posted $0.69 EPS. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. As a group, equities analysts forecast that Kraft Heinz Company will post 2.06 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.4%. The ex-dividend date is Friday, September 4th. Kraft Heinz’s payout ratio is presently -55.94%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on KHC shares. Weiss Ratings lowered Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. TD Cowen boosted their price objective on shares of Kraft Heinz from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, August 6th. Sanford C. Bernstein cut shares of Kraft Heinz from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $25.00 to $21.00 in a research report on Wednesday, June 3rd. Wells Fargo & Company lifted their price target on shares of Kraft Heinz from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 8th. Finally, Piper Sandler upped their price target on Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Reduce” and an average price target of $23.33.

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.