Retirement Systems of Alabama cut its position in Kraft Heinz Co. (NASDAQ:KHC) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 303,755 shares of the company’s stock after selling 124 shares during the period. Retirement Systems of Alabama’s holdings in Kraft Heinz were worth $26,876,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in Kraft Heinz by 22.6% in the first quarter. Envestnet Asset Management Inc. now owns 353,441 shares of the company’s stock worth $27,766,000 after buying an additional 65,072 shares during the period. Natixis boosted its stake in Kraft Heinz by 214.4% in the first quarter. Natixis now owns 352,559 shares of the company’s stock worth $27,696,000 after buying an additional 240,411 shares during the period. GW&K Investment Management LLC boosted its stake in Kraft Heinz by 0.5% in the second quarter. GW&K Investment Management LLC now owns 308,403 shares of the company’s stock worth $27,287,000 after buying an additional 1,678 shares during the period. British Airways Pensions Investment Management Ltd purchased a new stake in Kraft Heinz during the second quarter worth about $25,161,000. Finally, State Street Corp boosted its stake in Kraft Heinz by 3.4% in the first quarter. State Street Corp now owns 23,843,318 shares of the company’s stock worth $1,873,118,000 after buying an additional 775,834 shares during the period. Hedge funds and other institutional investors own 61.30% of the company’s stock.
Kraft Heinz Co. (NASDAQ:KHC) traded up 0.79% during mid-day trading on Tuesday, hitting $89.23. 1,530,325 shares of the stock traded hands. The firm’s 50-day moving average price is $88.88 and its 200-day moving average price is $84.56. Kraft Heinz Co. has a 52 week low of $68.18 and a 52 week high of $90.54. The firm has a market cap of $108.65 billion, a P/E ratio of 65.42 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The company earned $6.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the firm posted $0.92 EPS. The company’s quarterly revenue was up 159.7% on a year-over-year basis. On average, equities analysts forecast that Kraft Heinz Co. will post $3.24 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, August 26th will be given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date is Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s dividend payout ratio (DPR) is 181.82%.
A number of equities research analysts have issued reports on KHC shares. Zacks Investment Research upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Wednesday, June 29th. Vetr cut shares of Kraft Heinz from a “hold” rating to a “sell” rating and set a $82.91 price target for the company. in a report on Wednesday, June 29th. Goldman Sachs Group Inc. restated a “conviction-buy” rating and set a $98.00 price target (up from $93.00) on shares of Kraft Heinz in a report on Friday, July 15th. Susquehanna reaffirmed a “buy” rating and set a $98.00 price objective on shares of Kraft Heinz in a research report on Sunday, July 17th. Finally, Deutsche Bank AG raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and upped their price objective for the company from $85.00 to $103.00 in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating and fourteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $98.79.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of Kraft Heinz stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total value of $244,468,695.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 26.92% of the stock is currently owned by insiders.
About Kraft Heinz
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Heinz Co. (NASDAQ:KHC).
Receive News & Ratings for Kraft Heinz Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz Co. and related companies with MarketBeat.com's FREE daily email newsletter.