Public Employees Retirement System of Ohio Reduces Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Public Employees Retirement System of Ohio lessened its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 447,360 shares of the company’s stock after selling 28,185 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Kraft Heinz were worth $15,707,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Diversified Trust Co acquired a new position in Kraft Heinz in the second quarter valued at $307,000. Wealth Enhancement Advisory Services LLC increased its stake in shares of Kraft Heinz by 22.6% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 71,821 shares of the company’s stock valued at $2,314,000 after acquiring an additional 13,240 shares during the last quarter. V Square Quantitative Management LLC boosted its position in shares of Kraft Heinz by 11.1% in the second quarter. V Square Quantitative Management LLC now owns 6,548 shares of the company’s stock worth $211,000 after acquiring an additional 654 shares during the last quarter. ORG Partners LLC grew its holdings in Kraft Heinz by 3,273.1% in the second quarter. ORG Partners LLC now owns 5,903 shares of the company’s stock valued at $188,000 after purchasing an additional 5,728 shares during the period. Finally, Cigna Investments Inc. New increased its position in Kraft Heinz by 9.3% during the second quarter. Cigna Investments Inc. New now owns 9,349 shares of the company’s stock worth $302,000 after purchasing an additional 797 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $31.59 on Wednesday. The firm has a 50-day moving average of $33.33 and a two-hundred day moving average of $33.90. The company has a market capitalization of $38.20 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 3.52 and a beta of 0.48. 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.

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

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.06%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction on 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 directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on KHC shares. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Piper Sandler restated a “neutral” rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Citigroup decreased their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Finally, Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz has an average rating of “Hold” and an average price target of $36.55.

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.