The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky cut its stake in The Kraft Heinz Company (NASDAQ:KHCGet Rating) by 4.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,199 shares of the company’s stock after selling 2,097 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Kraft Heinz were worth $1,899,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KHC. Finer Wealth Management Inc. raised its holdings in shares of Kraft Heinz by 9.7% during the first quarter. Finer Wealth Management Inc. now owns 33,164 shares of the company’s stock worth $1,306,000 after purchasing an additional 2,933 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Kraft Heinz by 23.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,266,464 shares of the company’s stock worth $49,886,000 after acquiring an additional 240,066 shares during the last quarter. Kestra Private Wealth Services LLC grew its position in shares of Kraft Heinz by 4.1% during the first quarter. Kestra Private Wealth Services LLC now owns 15,587 shares of the company’s stock worth $614,000 after acquiring an additional 608 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its position in shares of Kraft Heinz by 10.5% during the first quarter. Fortitude Advisory Group L.L.C. now owns 2,939 shares of the company’s stock worth $116,000 after acquiring an additional 280 shares during the last quarter. Finally, M Holdings Securities Inc. bought a new position in shares of Kraft Heinz during the first quarter worth about $1,964,000. 67.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kraft Heinz Price Performance

NASDAQ KHC opened at $33.94 on Wednesday. The company has a 50 day simple moving average of $37.62 and a 200-day simple moving average of $38.84. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.89 and a quick ratio of 0.52. The firm has a market capitalization of $41.59 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 2.61 and a beta of 0.70. The Kraft Heinz Company has a 52-week low of $32.78 and a 52-week high of $44.87.

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

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Investors of record on Friday, August 26th will be issued a $0.40 dividend. The ex-dividend date is Thursday, August 25th. This represents a $1.60 dividend on an annualized basis and a yield of 4.71%. Kraft Heinz’s dividend payout ratio is currently 131.15%.

Insider Buying and Selling

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. In other Kraft Heinz news, CAO Lande Rashida La sold 30,000 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $38.36, for a total transaction of $1,150,800.00. Following the transaction, the chief accounting officer now owns 223,062 shares in the company, valued at $8,556,658.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Vince Garlati sold 19,938 shares of the firm’s stock in a transaction on Wednesday, August 17th. The stock was sold at an average price of $38.43, for a total transaction of $766,217.34. Following the completion of the sale, the vice president now owns 94,843 shares in the company, valued at approximately $3,644,816.49. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,438 shares of company stock worth $2,044,977. Insiders own 1.40% of the company’s stock.

Kraft Heinz Profile

(Get Rating)

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.

See Also

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

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