Teachers Retirement System of The State of Kentucky Sells 1,910 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Teachers Retirement System of The State of Kentucky trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.0% during the 2nd quarter, Holdings Channel reports. The firm owned 61,616 shares of the company’s stock after selling 1,910 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Kraft Heinz were worth $1,985,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KHC. Capital World Investors lifted its holdings in shares of Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Kraft Heinz by 47.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after purchasing an additional 1,778,263 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Kraft Heinz by 346.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock valued at $57,799,000 after purchasing an additional 1,179,863 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after purchasing an additional 1,027,636 shares in the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Kraft Heinz by 260.8% in the second quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock worth $37,686,000 after purchasing an additional 845,490 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Barclays increased their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Evercore ISI reduced their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $37.45.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now owns 143,970 shares of the company’s stock, valued at $5,182,920. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $34.59 on Friday. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $42.00 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 3.39 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The firm’s 50-day moving average is $35.12 and its 200 day moving average is $35.04.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The company’s quarterly revenue was down 3.3% on a year-over-year basis. Research analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.63%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

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.