State of New Jersey Common Pension Fund D Has $8.29 Million Stake in Kraft Heinz Company $KHC

Key Points

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State of New Jersey Common Pension Fund D decreased its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 272,432 shares of the company's stock after selling 30,734 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Kraft Heinz were worth $8,290,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Rossby Financial LCC bought a new stake in Kraft Heinz during the first quarter worth approximately $29,000. Wayfinding Financial LLC acquired a new stake in shares of Kraft Heinz in the first quarter worth $33,000. Investment Management Corp VA ADV boosted its holdings in shares of Kraft Heinz by 141.7% during the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after buying an additional 669 shares during the period. Pinney & Scofield Inc. acquired a new position in Kraft Heinz in the 4th quarter valued at $38,000. Finally, Abound Wealth Management raised its holdings in Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock worth $38,000 after acquiring an additional 1,157 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $27.67 on Monday. Kraft Heinz Company has a twelve month low of $25.44 and a twelve month high of $36.53. The company has a quick ratio of 0.66, a current ratio of 1.07 and a debt-to-equity ratio of 0.47. The stock has a market cap of $32.75 billion, a P/E ratio of -6.16, a PEG ratio of 3.22 and a beta of 0.23. The company's 50-day simple moving average is $27.02 and its 200 day simple moving average is $28.38.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. The company's revenue was down 1.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. As a group, research analysts forecast that Kraft Heinz Company will post 2.68 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 26th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.8%. Kraft Heinz's dividend payout ratio (DPR) is presently -35.63%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on KHC. UBS Group upped their price target on shares of Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a report on Thursday, July 31st. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a research note on Friday, August 1st. Sanford C. Bernstein downgraded 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. Finally, The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and upped their price target for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. Three research analysts have rated the stock with a sell rating and seventeen have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $30.35.

Insider Activity

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

About Kraft Heinz

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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