New York State Common Retirement Fund Cuts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

New York State Common Retirement Fund lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,092,628 shares of the company’s stock after selling 99,436 shares during the period. New York State Common Retirement Fund’s holdings in Kraft Heinz were worth $40,405,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Kraft Heinz during the 4th quarter worth $32,000. BKM Wealth Management LLC purchased a new stake in Kraft Heinz during the 4th quarter worth $33,000. Headinvest LLC purchased a new stake in Kraft Heinz during the 3rd quarter worth $38,000. Finally, VisionPoint Advisory Group LLC increased its stake in Kraft Heinz by 326.1% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 1,223 shares of the company’s stock worth $41,000 after buying an additional 936 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, April 18th. Citigroup initiated coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective for the company. Wells Fargo & Company decreased their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Finally, Bank of America raised their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Seven analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $40.57.

Kraft Heinz Trading Up 1.3 %

Kraft Heinz stock opened at $38.57 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. The firm has a 50-day moving average price of $36.07 and a two-hundred day moving average price of $35.53. The firm has a market capitalization of $46.89 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 3.00 and a beta of 0.67. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $41.47.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $6.99 billion. During the same period in the previous year, the firm earned $0.85 EPS. Kraft Heinz’s revenue was down 7.1% on a year-over-year basis. Sell-side analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.15%. Kraft Heinz’s dividend payout ratio (DPR) is 69.26%.

Kraft Heinz Company 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.