The Kraft Heinz Company (NASDAQ:KHC) Stock Holdings Lowered by State of Alaska Department of Revenue

State of Alaska Department of Revenue lowered its position in shares of The Kraft Heinz Company (NASDAQ:KHCGet Rating) by 21.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 169,308 shares of the company’s stock after selling 44,930 shares during the period. State of Alaska Department of Revenue’s holdings in Kraft Heinz were worth $6,456,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Kraft Heinz by 8.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,606,338 shares of the company’s stock worth $129,468,000 after purchasing an additional 290,029 shares during the period. Gabelli Funds LLC lifted its holdings in Kraft Heinz by 24.8% in the fourth quarter. Gabelli Funds LLC now owns 151,000 shares of the company’s stock worth $5,421,000 after purchasing an additional 30,000 shares during the period. Geode Capital Management LLC lifted its holdings in Kraft Heinz by 13.2% in the fourth quarter. Geode Capital Management LLC now owns 13,708,881 shares of the company’s stock worth $491,431,000 after purchasing an additional 1,600,993 shares during the period. American International Group Inc. lifted its holdings in Kraft Heinz by 3.2% in the fourth quarter. American International Group Inc. now owns 354,532 shares of the company’s stock worth $12,728,000 after purchasing an additional 10,891 shares during the period. Finally, Invesco Ltd. lifted its holdings in Kraft Heinz by 5.6% in the fourth quarter. Invesco Ltd. now owns 19,069,715 shares of the company’s stock worth $684,605,000 after purchasing an additional 1,014,677 shares during the period. Institutional investors own 67.03% of the company’s stock.

Insider Activity

In other news, CAO Lande Rashida La sold 3,500 shares of the company’s stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $36.56, for a total value of $127,960.00. Following the transaction, the chief accounting officer now owns 266,627 shares in the company, valued at approximately $9,747,883.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Vince Garlati sold 19,938 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $38.43, for a total value of $766,217.34. Following the transaction, the vice president now owns 94,843 shares in the company, valued at $3,644,816.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Lande Rashida La sold 3,500 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $36.56, for a total value of $127,960.00. Following the completion of the transaction, the chief accounting officer now owns 266,627 shares in the company, valued at approximately $9,747,883.12. The disclosure for this sale can be found here. Insiders have sold 53,438 shares of company stock worth $2,044,977 in the last 90 days. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on KHC. UBS Group downgraded shares of Kraft Heinz from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $40.00 to $34.00 in a report on Thursday, May 26th. Mizuho initiated coverage on shares of Kraft Heinz in a report on Monday, July 18th. They issued a “buy” rating and a $48.00 price target for the company. BMO Capital Markets raised shares of Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Wednesday, June 22nd. Stifel Nicolaus raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and set a $43.00 price target for the company in a report on Thursday, July 28th. They noted that the move was a valuation call. Finally, The Goldman Sachs Group reissued an “upgrade” rating on shares of Kraft Heinz in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $40.44.

Kraft Heinz Price Performance

KHC stock opened at $34.61 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.52 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a one year low of $32.78 and a one year high of $44.87. The firm has a market capitalization of $42.41 billion, a PE ratio of 28.37, a P/E/G ratio of 2.61 and a beta of 0.70. The firm has a 50-day moving average of $37.70 and a two-hundred day moving average of $38.88.

Kraft Heinz (NASDAQ:KHCGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. Kraft Heinz had a net margin of 5.92% and a return on equity of 6.82%. The company had revenue of $6.55 billion during the quarter, compared to analyst estimates of $6.36 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was down .9% on a year-over-year basis. On average, analysts forecast that The Kraft Heinz Company will post 2.66 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Stockholders of record on Friday, August 26th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.62%. Kraft Heinz’s dividend payout ratio is 131.15%.

Kraft Heinz Company Profile

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The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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