Public Employees Retirement System of Ohio Reduces Position in The Kraft Heinz Company (NASDAQ:KHC)

Public Employees Retirement System of Ohio reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 6.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 419,450 shares of the company's stock after selling 27,910 shares during the period. Public Employees Retirement System of Ohio's holdings in Kraft Heinz were worth $12,881,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. boosted its holdings in Kraft Heinz by 20.3% during the fourth quarter. Sunbelt Securities Inc. now owns 3,061 shares of the company's stock worth $93,000 after buying an additional 517 shares in the last quarter. Vise Technologies Inc. boosted its stake in shares of Kraft Heinz by 68.0% during the 4th quarter. Vise Technologies Inc. now owns 18,716 shares of the company's stock worth $575,000 after acquiring an additional 7,576 shares in the last quarter. White Knight Strategic Wealth Advisors LLC boosted its stake in shares of Kraft Heinz by 95.5% during the 4th quarter. White Knight Strategic Wealth Advisors LLC now owns 29,790 shares of the company's stock worth $915,000 after acquiring an additional 14,554 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Kraft Heinz by 23.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,585,167 shares of the company's stock worth $263,650,000 after acquiring an additional 1,628,516 shares in the last quarter. Finally, Voloridge Investment Management LLC boosted its position in Kraft Heinz by 185.1% during the fourth quarter. Voloridge Investment Management LLC now owns 1,356,340 shares of the company's stock worth $41,653,000 after purchasing an additional 880,561 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Trading Down 1.1%

Shares of KHC stock traded down $0.29 on Wednesday, hitting $26.54. The stock had a trading volume of 9,081,768 shares, compared to its average volume of 9,416,114. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The firm has a market capitalization of $31.41 billion, a P/E ratio of 11.74, a P/E/G ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a 1 year low of $26.01 and a 1 year high of $36.53. The company's 50 day moving average price is $28.76 and its 200-day moving average price is $29.86.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. Analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 6.03%. Kraft Heinz's dividend payout ratio (DPR) is 73.06%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on KHC shares. Piper Sandler lowered their price target on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating on the stock in a research report on Thursday, February 13th. Sanford C. Bernstein lowered Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their target price for the company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Cfra Research downgraded shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Mizuho decreased their price objective on shares of Kraft Heinz from $31.00 to $29.00 and set a "neutral" rating on the stock in a report on Wednesday. Finally, Wall Street Zen raised shares of Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Four investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of "Hold" and a consensus target price of $30.53.

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.