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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KHC. Fortitude Family Office LLC raised its holdings in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz in the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC boosted its position in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares during the period. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz during the third quarter worth about $32,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on KHC. Piper Sandler reaffirmed a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Citigroup cut their price target on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Finally, Mizuho decreased their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $36.55.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $30.97 on Tuesday. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96. The company has a market cap of $37.45 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 3.57 and a beta of 0.48. The business’s 50 day moving average price is $33.02 and its two-hundred day moving average price is $33.76. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

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

Kraft Heinz Announces Dividend

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