Teachers Retirement System of The State of Kentucky Sells 3,058 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Teachers Retirement System of The State of Kentucky decreased its position in The Kraft Heinz Company (NASDAQ:KHC) by 4.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 66,963 shares of the company’s stock after selling 3,058 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Kraft Heinz were worth $2,477,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of KHC. GLOBALT Investments LLC GA bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $7,743,000. Palogic Value Management L.P. lifted its stake in shares of Kraft Heinz by 17.9% in the 4th quarter. Palogic Value Management L.P. now owns 14,929 shares of the company’s stock valued at $552,000 after purchasing an additional 2,270 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Kraft Heinz in the 4th quarter worth approximately $136,000. III Capital Management increased its position in shares of Kraft Heinz by 14.6% during the 4th quarter. III Capital Management now owns 39,140 shares of the company’s stock valued at $1,447,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Bridgewater Associates LP raised its holdings in Kraft Heinz by 7.7% during the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after buying an additional 118,260 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Down 0.1 %

Shares of NASDAQ:KHC opened at $32.64 on Friday. The business’s 50 day moving average is $35.68 and its 200 day moving average is $36.19. The stock has a market cap of $39.63 billion, a P/E ratio of 14.25, a price-to-earnings-growth ratio of 2.63 and a beta of 0.57. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the company earned $0.68 EPS. The business’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.90%. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Activity at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KHC. Piper Sandler reduced their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Finally, Bank of America boosted their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Monday, April 15th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Moderate Buy” and an average target price of $40.00.

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.