Manning & Napier Advisors LLC Acquires Shares of 146,057 Kraft Heinz Company $KHC

Manning & Napier Advisors LLC purchased a new position in Kraft Heinz Company (NASDAQ:KHC) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 146,057 shares of the company’s stock, valued at approximately $3,533,000.

A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Kraft Heinz by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 102,933,219 shares of the company’s stock valued at $2,496,131,000 after acquiring an additional 616,283 shares in the last quarter. BlackRock Inc. purchased a new stake in Kraft Heinz during the 2nd quarter valued at $1,803,911,000. Invesco Ltd. increased its holdings in shares of Kraft Heinz by 10.5% in the 4th quarter. Invesco Ltd. now owns 19,725,662 shares of the company’s stock worth $478,347,000 after purchasing an additional 1,870,310 shares in the last quarter. Auto Owners Insurance Co lifted its holdings in shares of Kraft Heinz by 3,034.1% during the fourth quarter. Auto Owners Insurance Co now owns 16,477,002 shares of the company’s stock valued at $39,957,000 after purchasing an additional 15,951,271 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at $332,382,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 0.4%

Shares of KHC stock opened at $25.67 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.06 and a quick ratio of 0.68. Kraft Heinz Company has a one year low of $21.03 and a one year high of $28.09. The company’s fifty day moving average price is $25.03 and its 200-day moving average price is $23.90. The company has a market capitalization of $30.44 billion, a price-to-earnings ratio of -8.98 and a beta of 0.08.

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

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, September 4th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, September 4th. Kraft Heinz’s payout ratio is -55.94%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. TD Cowen lifted their price target 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. Wells Fargo & Company raised their target price 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. Piper Sandler lifted their target price on shares of Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Sanford C. Bernstein downgraded Kraft Heinz from a “market perform” rating to an “underperform” rating and dropped their price target for the stock from $25.00 to $21.00 in a research note on Wednesday, June 3rd. Finally, Evercore set a $24.00 target price on Kraft Heinz in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Reduce” and a consensus target price of $23.62.

Insider Activity at Kraft Heinz

In related news, insider Diana Frost sold 18,502 shares of the business’s stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $23.05, for a total value of $426,471.10. Following the sale, the insider directly owned 102,667 shares in the company, valued at approximately $2,366,474.35. The trade was a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

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.