Teachers Retirement System of The State of Kentucky Sells 1,259 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Teachers Retirement System of The State of Kentucky lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 2.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 60,357 shares of the company’s stock after selling 1,259 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Kraft Heinz were worth $2,119,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in KHC. State Street Corp lifted its position in shares of Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after acquiring an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at $411,304,000. LSV Asset Management grew its holdings in shares of Kraft Heinz by 2.1% in the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after purchasing an additional 189,000 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after purchasing an additional 799,581 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of recent analyst reports. Piper Sandler restated a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Citigroup decreased their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Mizuho dropped their price target on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Finally, The Goldman Sachs Group lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Price Performance

Shares of KHC stock opened at $30.97 on Tuesday. The firm has a market cap of $37.45 billion, a price-to-earnings ratio of 27.90, a PEG ratio of 3.57 and a beta of 0.48. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a 50-day moving average price of $33.02 and a 200 day moving average price of $33.76.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter in the previous year, the company earned $0.72 EPS. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. Research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.17%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

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.