New York State Common Retirement Fund lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 8.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,092,628 shares of the company's stock after selling 99,436 shares during the period. New York State Common Retirement Fund owned about 0.09% of Kraft Heinz worth $40,405,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the business. Foster & Motley Inc. increased its stake in shares of Kraft Heinz by 14.9% in the fourth quarter. Foster & Motley Inc. now owns 47,330 shares of the company's stock worth $1,750,000 after purchasing an additional 6,129 shares in the last quarter. Duality Advisers LP bought a new stake in Kraft Heinz during the fourth quarter valued at approximately $694,000. Capital Investment Advisory Services LLC lifted its position in Kraft Heinz by 51.0% during the fourth quarter. Capital Investment Advisory Services LLC now owns 12,401 shares of the company's stock valued at $459,000 after purchasing an additional 4,187 shares during the last quarter. Commerzbank Aktiengesellschaft FI lifted its holdings in shares of Kraft Heinz by 2.2% in the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 26,501 shares of the company's stock worth $980,000 after acquiring an additional 564 shares during the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its holdings in shares of Kraft Heinz by 33.3% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 42,000 shares of the company's stock worth $1,553,000 after acquiring an additional 10,500 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 15th. Bank of America increased their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a "buy" rating in a research note on Monday, April 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a "buy" rating in a research report on Thursday, April 18th. Finally, Citigroup started coverage on Kraft Heinz in a research note on Thursday, February 1st. They issued a "buy" rating and a $43.00 price target for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $40.57.
Read Our Latest Stock Report on Kraft Heinz
Kraft Heinz Trading Down 0.5 %
NASDAQ KHC traded down $0.20 during trading on Thursday, hitting $38.37. The stock had a trading volume of 6,667,949 shares, compared to its average volume of 8,066,183. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The stock has a market capitalization of $46.64 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 3.00 and a beta of 0.67. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $41.47. The stock has a 50 day simple moving average of $36.07 and a 200 day simple moving average of $35.53.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The firm's quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.85 earnings per share. Sell-side analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.
Kraft Heinz Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.17%. The ex-dividend date was Thursday, March 7th. Kraft Heinz's payout ratio is currently 69.26%.
About Kraft Heinz
(
Free Report)
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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