Kentucky Retirement Systems Decreases Position in The Kraft Heinz Company (NASDAQ:KHC)

Kentucky Retirement Systems decreased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,478 shares of the company’s stock after selling 1,068 shares during the quarter. Kentucky Retirement Systems’ holdings in Kraft Heinz were worth $1,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in KHC. Seven Eight Capital LP purchased a new stake in Kraft Heinz during the 2nd quarter valued at $1,224,000. Elo Mutual Pension Insurance Co increased its holdings in Kraft Heinz by 13.0% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 80,341 shares of the company’s stock worth $2,589,000 after buying an additional 9,215 shares in the last quarter. Blair William & Co. IL raised its position in Kraft Heinz by 10.5% in the 2nd quarter. Blair William & Co. IL now owns 250,678 shares of the company’s stock worth $8,077,000 after buying an additional 23,810 shares during the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in Kraft Heinz by 5.4% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 85,439 shares of the company’s stock valued at $2,698,000 after acquiring an additional 4,367 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of Kraft Heinz by 0.4% during the 2nd quarter. Amalgamated Bank now owns 166,079 shares of the company’s stock valued at $5,351,000 after acquiring an additional 697 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. lowered their price target on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Piper Sandler cut their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. The Goldman Sachs Group assumed coverage on Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $37.50.

Kraft Heinz Stock Down 0.1 %

KHC opened at $34.96 on Friday. The stock has a market cap of $42.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The firm’s fifty day moving average is $34.80 and its 200 day moving average is $35.05. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. On average, sell-side analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

Kraft Heinz Company 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.