State of Alaska Department of Revenue Sells 27,490 Shares of The Kraft Heinz Company (NASDAQ:KHC)

State of Alaska Department of Revenue reduced its position in The Kraft Heinz Company (NASDAQ:KHC) by 13.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 171,004 shares of the company’s stock after selling 27,490 shares during the period. State of Alaska Department of Revenue’s holdings in Kraft Heinz were worth $6,309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullinan Associates Inc. boosted its position in shares of Kraft Heinz by 19.9% during the 1st quarter. Cullinan Associates Inc. now owns 12,881 shares of the company’s stock valued at $475,000 after acquiring an additional 2,134 shares during the last quarter. AlphaMark Advisors LLC lifted its position in Kraft Heinz by 128.9% during the first quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock valued at $44,000 after purchasing an additional 665 shares during the last quarter. SteelPeak Wealth LLC grew its stake in shares of Kraft Heinz by 15.5% in the 1st quarter. SteelPeak Wealth LLC now owns 56,421 shares of the company’s stock worth $2,082,000 after buying an additional 7,572 shares in the last quarter. Foguth Wealth Management LLC. bought a new stake in shares of Kraft Heinz in the 1st quarter worth about $323,000. Finally, Alpha Omega Wealth Management LLC raised its position in shares of Kraft Heinz by 3.4% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 14,884 shares of the company’s stock valued at $549,000 after buying an additional 484 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Trading Up 0.3 %

KHC stock opened at $32.09 on Thursday. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The firm’s 50-day moving average is $34.94 and its 200 day moving average is $35.95. The company has a market capitalization of $38.97 billion, a PE ratio of 14.01, a P/E/G ratio of 2.58 and a beta of 0.53. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the company posted $0.68 earnings per share. On average, research analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 6th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.99%. The ex-dividend date of this dividend was Thursday, June 6th. Kraft Heinz’s dividend payout ratio is 69.87%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Bank of America boosted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. Wells Fargo & Company cut their target price on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft increased their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Finally, Piper Sandler dropped their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research note on Thursday, June 20th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $39.75.

Insider Transactions at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Kraft Heinz Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.