The Kraft Heinz Company (NASDAQ:KHC) Stock Position Lowered by California Public Employees Retirement System

California Public Employees Retirement System trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,943,446 shares of the company's stock after selling 108,389 shares during the quarter. California Public Employees Retirement System owned about 0.40% of Kraft Heinz worth $182,809,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz during the third quarter worth $26,000. Riverview Trust Co acquired a new stake in shares of Kraft Heinz during the third quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth $32,000. BKM Wealth Management LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth $33,000. Finally, Headinvest LLC acquired a new stake in shares of Kraft Heinz during the third quarter worth $38,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Shares of KHC stock traded down $0.08 during mid-day trading on Tuesday, reaching $38.07. The stock had a trading volume of 5,856,762 shares, compared to its average volume of 8,094,511. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $41.47. The company has a market cap of $46.28 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 2.98 and a beta of 0.67. The business has a 50-day simple moving average of $35.98 and a 200 day simple moving average of $35.48. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.77 by $0.01. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The business's revenue for the quarter was down 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. On average, sell-side analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend was Thursday, March 7th. Kraft Heinz's payout ratio is currently 69.26%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KHC. Citigroup began coverage on Kraft Heinz in a report on Thursday, February 1st. They set a "buy" rating and a $43.00 price target for the company. Wells Fargo & Company cut their price objective on Kraft Heinz from $38.00 to $37.00 and set an "equal weight" rating for the company in a research report on Thursday, February 15th. Bank of America increased their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a "buy" rating in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a "buy" rating in a research report on Thursday, April 18th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of "Hold" and a consensus price target of $40.57.

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.