State of Alaska Department of Revenue Cuts Stake in The Kraft Heinz Company (NASDAQ:KHC)

State of Alaska Department of Revenue lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 13.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 171,004 shares of the company’s stock after selling 27,490 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kraft Heinz were worth $6,309,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Steward Partners Investment Solutions LLC acquired a new position in Kraft Heinz during the 4th quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Kraft Heinz during the fourth quarter worth about $32,000. BKM Wealth Management LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter worth approximately $33,000. Headinvest LLC acquired a new stake in Kraft Heinz in the third quarter valued at approximately $38,000. Finally, Transcendent Capital Group LLC purchased a new position in Kraft Heinz in the fourth quarter worth approximately $38,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $32.09 on Thursday. The stock has a market cap of $38.97 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.58 and a beta of 0.53. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96. The stock has a 50 day moving average of $34.94 and a two-hundred day moving average of $35.95. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40.

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

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.99%. Kraft Heinz’s payout ratio is 69.87%.

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft raised their price target on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Wells Fargo & Company lowered their price objective on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a research report on Thursday, June 27th. Finally, Bank of America raised their target price on Kraft Heinz from $40.00 to $42.00 and gave the stock 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 data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Moderate Buy” and a consensus price target of $39.75.

Insider Buying and Selling at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the sale, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is currently owned by insiders.

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.