Strs Ohio Sells 18,808 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Strs Ohio decreased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 277,126 shares of the company’s stock after selling 18,808 shares during the period. Strs Ohio’s holdings in Kraft Heinz were worth $10,248,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Raymond James Trust N.A. grew its stake in Kraft Heinz by 11.0% in the 4th quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock valued at $1,465,000 after buying an additional 3,916 shares during the last quarter. Hudson Bay Capital Management LP acquired a new position in shares of Kraft Heinz in the third quarter valued at approximately $5,399,000. Victory Capital Management Inc. increased its stake in shares of Kraft Heinz by 16.3% during the third quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock worth $59,478,000 after purchasing an additional 247,896 shares during the period. Cerity Partners LLC lifted its holdings in Kraft Heinz by 42.5% during the 4th quarter. Cerity Partners LLC now owns 457,923 shares of the company’s stock worth $16,934,000 after purchasing an additional 136,556 shares during the last quarter. Finally, FMR LLC boosted its stake in Kraft Heinz by 37.9% in the 3rd quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after purchasing an additional 832,653 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Up 0.8 %

NASDAQ KHC opened at $36.90 on Thursday. The business has a fifty day moving average price of $35.86 and a two-hundred day moving average price of $35.34. The stock has a market capitalization of $44.86 billion, a PE ratio of 15.97, a PEG ratio of 2.89 and a beta of 0.67. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $41.47. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.54.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The business had revenue of $6.86 billion during the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the prior year, the company earned $0.85 EPS. Kraft Heinz’s revenue for the quarter was down 7.1% on a year-over-year basis. Equities analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.34%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s dividend payout ratio is presently 69.26%.

Analysts Set New Price Targets

A number of brokerages have commented on KHC. 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. Wells Fargo & Company lowered their price target 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. Finally, Citigroup started coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They issued a “buy” rating and a $43.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $40.71.

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.