SummitTX Capital L.P. Has $2.59 Million Stock Holdings in Kraft Heinz Company $KHC

SummitTX Capital L.P. trimmed its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 61.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 115,119 shares of the company’s stock after selling 183,887 shares during the quarter. SummitTX Capital L.P.’s holdings in Kraft Heinz were worth $2,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Kraft Heinz during the 1st quarter worth about $207,000. Woodline Partners LP boosted its position in shares of Kraft Heinz by 39.0% in the first quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock valued at $2,243,000 after acquiring an additional 20,690 shares during the period. NewEdge Advisors LLC grew its position in shares of Kraft Heinz by 16.6% during the 2nd quarter. NewEdge Advisors LLC now owns 51,222 shares of the company’s stock worth $1,323,000 after purchasing an additional 7,307 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Kraft Heinz by 0.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 522,147 shares of the company’s stock worth $13,482,000 after acquiring an additional 4,003 shares during the period. Finally, HUB Investment Partners LLC acquired a new position in Kraft Heinz in the second quarter valued at about $207,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Trading Up 4.1%

Shares of KHC stock opened at $27.30 on Wednesday. Kraft Heinz Company has a 1-year low of $21.03 and a 1-year high of $29.19. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46. The stock has a market cap of $32.37 billion, a price-to-earnings ratio of -5.62 and a beta of 0.09. The stock has a 50-day moving average of $24.30 and a 200-day moving average of $23.62.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 23.05%.The company had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.89 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. The firm’s quarterly revenue was up .8% on a year-over-year basis. 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 2.07 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 5.9%. Kraft Heinz’s dividend payout ratio is -32.92%.

Insider Buying and Selling at Kraft Heinz

In other 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

KHC has been the subject of a number of research analyst reports. BTIG Research initiated coverage on Kraft Heinz in a report on Monday, April 13th. They set a “neutral” rating for the company. JPMorgan Chase & Co. upped their price objective on shares of Kraft Heinz from $21.00 to $22.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 15th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kraft Heinz from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. Zacks Research raised shares of Kraft Heinz from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 21st. Finally, Morgan Stanley set a $22.00 target price on shares of Kraft Heinz in a research note on Thursday, April 23rd. One investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $23.19.

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.