Strs Ohio Decreases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Strs Ohio decreased its position in The Kraft Heinz Company (NASDAQ:KHC) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 277,126 shares of the company’s stock after selling 18,808 shares during the quarter. Strs Ohio’s holdings in Kraft Heinz were worth $10,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Kraft Heinz Trading Up 0.8 %

NASDAQ KHC opened at $36.90 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The company’s 50-day simple moving average is $35.86 and its two-hundred day simple moving average is $35.34. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $41.47. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 2.89 and a beta of 0.67.

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

Kraft Heinz Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on KHC. Bank of America lifted their target price on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday. Citigroup began coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Finally, Wells Fargo & Company dropped their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus target price of $40.71.

Kraft Heinz Profile

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.