New York State Common Retirement Fund Reduces Stake in The Kraft Heinz Company (NASDAQ:KHC)

New York State Common Retirement Fund trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,096,563 shares of the company’s stock after selling 63,500 shares during the period. New York State Common Retirement Fund owned approximately 0.09% of Kraft Heinz worth $38,500,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. MADDEN SECURITIES Corp raised its holdings in shares of Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after buying an additional 303 shares in the last quarter. HB Wealth Management LLC grew its holdings in Kraft Heinz by 2.5% in the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after purchasing an additional 314 shares during the period. Axiom Advisory LLC increased its position in Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after buying an additional 327 shares in the last quarter. Lorne Steinberg Wealth Management Inc. boosted its stake in Kraft Heinz by 0.3% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock worth $4,044,000 after purchasing an additional 335 shares in the last quarter. Finally, Norden Group LLC raised its holdings in Kraft Heinz by 3.8% in the second quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after buying an additional 339 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Citigroup decreased their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. Wells Fargo & Company boosted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI dropped their target price 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $37.25.

Kraft Heinz Trading Up 0.1 %

Shares of NASDAQ:KHC opened at $33.49 on Friday. The stock has a 50 day moving average of $35.15 and a 200 day moving average of $34.82. The company has a current ratio of 1.06, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The company has a market cap of $40.50 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 3.49 and a beta of 0.49. The Kraft Heinz Company has a 12-month low of $31.58 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data 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 for 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%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.78%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is currently 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.