Gabelli Funds LLC Increases Stock Position in Kraft Heinz Company $KHC

Gabelli Funds LLC boosted its position in Kraft Heinz Company (NASDAQ:KHC) by 18.3% in the first quarter, HoldingsChannel reports. The firm owned 347,400 shares of the company’s stock after buying an additional 53,800 shares during the quarter. Gabelli Funds LLC’s holdings in Kraft Heinz were worth $7,813,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jessup Wealth Management Inc purchased a new position in shares of Kraft Heinz in the 4th quarter worth approximately $27,000. Reflection Asset Management bought a new stake in Kraft Heinz during the fourth quarter worth $28,000. DV Equities LLC bought a new stake in Kraft Heinz during the fourth quarter worth $29,000. Cassaday & Co Wealth Management LLC purchased a new position in Kraft Heinz in the first quarter worth $27,000. Finally, Key Capital Management INC purchased a new position in Kraft Heinz in the fourth quarter worth $29,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 2.1%

KHC stock opened at $26.22 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 1.20 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $31.09 billion, a PE ratio of -5.40 and a beta of 0.09. Kraft Heinz Company has a twelve month low of $21.03 and a twelve month high of $29.19. The stock has a 50-day simple moving average of $24.22 and a two-hundred day simple moving average of $23.59.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, May 6th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.89 billion. Kraft Heinz had a negative net margin of 23.05% and a positive return on equity of 7.26%. Kraft Heinz’s revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.62 EPS. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, equities analysts predict that Kraft Heinz Company will post 2.07 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 6.1%. Kraft Heinz’s payout ratio is -32.92%.

Insider Transactions at Kraft Heinz

In related news, insider Diana Frost sold 18,502 shares of the firm’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $23.05, for a total transaction of $426,471.10. Following the transaction, the insider directly owned 102,667 shares of the company’s stock, valued at approximately $2,366,474.35. This trade represents a 15.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.24% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company raised their target price on Kraft Heinz from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Jefferies Financial Group reduced their price target on shares of Kraft Heinz from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, March 30th. UBS Group raised their price objective on shares of Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Evercore set a $23.00 price objective on shares of Kraft Heinz in a research report on Thursday. Finally, Zacks Research raised shares of Kraft Heinz from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have given a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Reduce” and an average price target of $23.19.

Kraft Heinz 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.