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

California State Teachers Retirement System trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 0.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,239,209 shares of the company’s stock after selling 11,604 shares during the quarter. California State Teachers Retirement System’s holdings in Kraft Heinz were worth $41,328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its holdings in Kraft Heinz by 7.9% during the third quarter. Daiwa Securities Group Inc. now owns 96,470 shares of the company’s stock worth $3,217,000 after buying an additional 7,093 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of Kraft Heinz by 419.3% in the second quarter. Allianz Asset Management GmbH now owns 419,701 shares of the company’s stock valued at $16,007,000 after buying an additional 338,875 shares in the last quarter. J.W. Cole Advisors Inc. lifted its position in shares of Kraft Heinz by 8.9% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,087 shares of the company’s stock valued at $203,000 after acquiring an additional 499 shares during the last quarter. Natixis boosted its stake in shares of Kraft Heinz by 62.1% during the 2nd quarter. Natixis now owns 227,275 shares of the company’s stock worth $8,695,000 after acquiring an additional 87,027 shares in the last quarter. Finally, Cabot Wealth Management Inc. grew its holdings in shares of Kraft Heinz by 4.8% in the 3rd quarter. Cabot Wealth Management Inc. now owns 138,525 shares of the company’s stock worth $4,620,000 after acquiring an additional 6,344 shares during the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KHC. Piper Sandler increased their price target on Kraft Heinz from $39.00 to $43.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. Morgan Stanley lifted their target price on shares of Kraft Heinz from $41.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Friday, February 17th. Mizuho upped their price target on shares of Kraft Heinz from $48.00 to $50.00 in a research report on Friday, January 6th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kraft Heinz from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Tuesday, December 6th. Finally, StockNews.com initiated coverage on Kraft Heinz in a report on Thursday. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $42.92.

Kraft Heinz Trading Down 1.4 %

NASDAQ KHC opened at $37.63 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 1-year low of $32.73 and a 1-year high of $44.87. The firm’s fifty day simple moving average is $39.78 and its 200-day simple moving average is $38.31. The company has a market capitalization of $46.10 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 3.45 and a beta of 0.70.

Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its earnings results on Wednesday, February 15th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.07. The company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.23 billion. Kraft Heinz had a return on equity of 7.03% and a net margin of 8.92%. The business’s revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.79 EPS. As a group, sell-side analysts anticipate that The Kraft Heinz Company will post 2.72 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Friday, March 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date of this dividend is Thursday, March 9th. Kraft Heinz’s dividend payout ratio (DPR) is presently 83.77%.

Insiders Place Their Bets

In related news, EVP Flavio Torres sold 250,571 shares of Kraft Heinz stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $39.58, for a total value of $9,917,600.18. Following the completion of the sale, the executive vice president now owns 188,983 shares of the company’s stock, valued at approximately $7,479,947.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, EVP Flavio Torres sold 250,571 shares of the firm’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $39.58, for a total value of $9,917,600.18. Following the transaction, the executive vice president now directly owns 188,983 shares of the company’s stock, valued at approximately $7,479,947.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Melissa Werneck sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $42.39, for a total value of $148,365.00. Following the completion of the sale, the executive vice president now owns 266,583 shares of the company’s stock, valued at $11,300,453.37. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

About Kraft Heinz

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The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015, and is headquartered in Pittsburgh, PA.