Illinois Municipal Retirement Fund Sells 56,782 Shares of Kraft Heinz Company (NASDAQ:KHC)

Illinois Municipal Retirement Fund cut its stake in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 9.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 523,744 shares of the company's stock after selling 56,782 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Kraft Heinz were worth $15,938,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in Kraft Heinz by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after buying an additional 14,996,486 shares during the period. Norges Bank bought a new stake in Kraft Heinz during the fourth quarter valued at approximately $324,857,000. Southeastern Asset Management Inc. TN bought a new stake in Kraft Heinz during the fourth quarter valued at approximately $87,080,000. Fairfax Financial Holdings Ltd. Can grew its position in Kraft Heinz by 341.9% during the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock valued at $101,773,000 after buying an additional 2,564,000 shares during the period. Finally, Criteria Caixa S.A.U. bought a new stake in Kraft Heinz during the fourth quarter valued at approximately $73,316,000. 78.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of recent analyst reports. Mizuho set a $29.00 price target on shares of Kraft Heinz and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Wall Street Zen upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Sanford C. Bernstein lowered shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their price target for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Morgan Stanley initiated coverage on shares of Kraft Heinz in a research report on Monday, March 24th. They issued an "underweight" rating and a $29.00 price target for the company. Finally, DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target for the company. in a research report on Friday, May 9th. Three analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat, Kraft Heinz has an average rating of "Hold" and a consensus target price of $30.47.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $25.79 on Friday. The company has a market cap of $30.52 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 3.01 and a beta of 0.27. The firm's fifty day moving average is $27.38 and its 200 day moving average is $29.07. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Kraft Heinz Company has a 52-week low of $25.53 and a 52-week high of $36.53.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. Kraft Heinz's revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.69 earnings per share. Sell-side analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 6.20%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz's dividend payout ratio is currently 73.06%.

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.

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