State of Alaska Department of Revenue Acquires 28,595 Shares of Kraft Heinz Company (NASDAQ:KHC)

State of Alaska Department of Revenue lifted its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 28.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 129,229 shares of the company's stock after acquiring an additional 28,595 shares during the period. State of Alaska Department of Revenue's holdings in Kraft Heinz were worth $3,931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Headlands Technologies LLC acquired a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $2,048,000. Versant Capital Management Inc increased its holdings in shares of Kraft Heinz by 493.4% in the 1st quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock worth $376,000 after acquiring an additional 10,272 shares during the period. Farther Finance Advisors LLC increased its holdings in shares of Kraft Heinz by 58.3% in the 1st quarter. Farther Finance Advisors LLC now owns 22,111 shares of the company's stock worth $671,000 after acquiring an additional 8,144 shares during the period. Park Avenue Securities LLC increased its stake in shares of Kraft Heinz by 35.4% in the first quarter. Park Avenue Securities LLC now owns 26,041 shares of the company's stock valued at $792,000 after purchasing an additional 6,815 shares during the period. Finally, Allworth Financial LP raised its holdings in shares of Kraft Heinz by 67.3% during the fourth quarter. Allworth Financial LP now owns 22,719 shares of the company's stock valued at $660,000 after buying an additional 9,139 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Up 0.5%

Shares of KHC stock traded up $0.12 on Friday, reaching $25.80. 24,837,077 shares of the company's stock traded hands, compared to its average volume of 11,266,114. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31. Kraft Heinz Company has a 12-month low of $25.53 and a 12-month high of $36.53. The business's 50 day moving average price is $27.66 and its two-hundred day moving average price is $29.20. The company has a market capitalization of $30.54 billion, a P/E ratio of 8.63, a price-to-earnings-growth ratio of 3.02 and a beta of 0.27.

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

Kraft Heinz Announces Dividend

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

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of recent analyst reports. Stifel Nicolaus cut their price target on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a report on Wednesday, April 30th. Wall Street Zen raised Kraft Heinz from a "sell" rating to a "hold" rating in a research note on Wednesday, March 12th. Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the company a "neutral" rating in a research note on Wednesday, May 28th. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. Finally, Morgan Stanley began 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 on the stock. Four research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $30.35.

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.