Kentucky Retirement Systems Insurance Trust Fund Boosts Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 26,132 shares of the company’s stock after buying an additional 674 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Kraft Heinz were worth $917,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kentucky Retirement Systems grew its position in shares of Kraft Heinz by 3.4% during the 3rd quarter. Kentucky Retirement Systems now owns 61,489 shares of the company’s stock valued at $2,159,000 after acquiring an additional 2,011 shares during the period. Altrius Capital Management Inc grew its holdings in Kraft Heinz by 3.3% in the third quarter. Altrius Capital Management Inc now owns 126,852 shares of the company’s stock valued at $4,454,000 after purchasing an additional 4,042 shares during the period. Empirical Finance LLC increased its position in shares of Kraft Heinz by 2.6% in the third quarter. Empirical Finance LLC now owns 25,987 shares of the company’s stock valued at $912,000 after buying an additional 653 shares in the last quarter. Sheaff Brock Investment Advisors LLC lifted its position in shares of Kraft Heinz by 4.4% during the 3rd quarter. Sheaff Brock Investment Advisors LLC now owns 23,105 shares of the company’s stock valued at $811,000 after buying an additional 968 shares in the last quarter. Finally, CIBC Asset Management Inc grew its stake in Kraft Heinz by 7.8% in the 3rd quarter. CIBC Asset Management Inc now owns 359,786 shares of the company’s stock valued at $12,632,000 after acquiring an additional 25,887 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on KHC. Evercore ISI decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group cut their price objective 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. Piper Sandler lowered their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Kraft Heinz has an average rating of “Hold” and an average target price of $37.00.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Down 2.0 %

Shares of KHC stock opened at $31.14 on Monday. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96. The company’s 50-day moving average price is $34.53 and its 200-day moving average price is $34.42. The stock has a market cap of $37.65 billion, a price-to-earnings ratio of 28.05, a PEG ratio of 3.56 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 EPS. As a group, equities analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.14%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

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.