Kraft Heinz Company $KHC Stock Position Lessened by Public Employees Retirement System of Ohio

Key Points

• Public Employees Retirement System of Ohio has reduced its stake in Kraft Heinz by 16.1%, now owning approximately 306,584 shares valued at about $7.9 million.
• Kraft Heinz reported a quarterly earnings per share of $0.69, beating analysts’ expectations of $0.64, and its revenue for the quarter was $6.35 billion, surpassing estimates.
• The company recently declared a quarterly dividend of $0.40 per share, which translates to an annualized dividend yield of 6.1%.

Public Employees Retirement System of Ohio decreased its holdings in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 16.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 306,584 shares of the company's stock after selling 58,931 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Kraft Heinz were worth $7,916,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of KHC. Norden Group LLC boosted its stake in Kraft Heinz by 18.6% during the second quarter. Norden Group LLC now owns 9,902 shares of the company's stock valued at $256,000 after buying an additional 1,552 shares in the last quarter. Waycross Partners LLC bought a new position in Kraft Heinz during the second quarter valued at about $233,000. Tepp RIA LLC bought a new position in Kraft Heinz during the second quarter valued at about $284,000. Bank of Stockton boosted its stake in Kraft Heinz by 8.1% during the second quarter. Bank of Stockton now owns 10,639 shares of the company's stock valued at $275,000 after buying an additional 801 shares in the last quarter. Finally, Alpha Omega Wealth Management LLC boosted its stake in Kraft Heinz by 129.7% during the second quarter. Alpha Omega Wealth Management LLC now owns 33,606 shares of the company's stock valued at $868,000 after buying an additional 18,974 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Up 0.9%

Shares of Kraft Heinz stock opened at $26.05 on Friday. The stock has a 50-day moving average price of $27.27 and a 200 day moving average price of $27.71. The company has a market cap of $30.83 billion, a P/E ratio of -5.80, a P/E/G ratio of 3.04 and a beta of 0.23. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. Kraft Heinz Company has a 1 year low of $25.44 and a 1 year high of $36.31.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The company had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the business earned $0.78 EPS. The business's quarterly revenue was down 1.9% on a year-over-year basis. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. As a group, analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.1%. Kraft Heinz's dividend payout ratio (DPR) is -35.63%.

Wall Street Analyst Weigh In

KHC has been the subject of several analyst reports. UBS Group set a $28.00 target price on Kraft Heinz and gave the company a "neutral" rating in a report on Thursday, September 4th. The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and upped their target price for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Hsbc Global Res raised Kraft Heinz to a "hold" rating in a report on Friday, August 1st. Stifel Nicolaus reduced their target price on Kraft Heinz from $30.00 to $28.00 and set a "hold" rating for the company in a report on Wednesday, September 3rd. Finally, JPMorgan Chase & Co. initiated coverage on Kraft Heinz in a report on Wednesday, August 20th. They set a "neutral" rating and a $27.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of "Hold" and an average target price of $29.76.

Insider Buying and Selling at Kraft Heinz

In other news, Director Elio Leoni Sceti sold 25,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the sale, the director directly owned 40,000 shares of the company's stock, valued at $1,116,400. This trade represents a 38.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by company insiders.

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.

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