Strs Ohio Decreases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Apr 9th, 2023

Strs Ohio trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC – Get Rating) by 2.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 271,820 shares of the company’s stock after selling 6,203 shares during the quarter. Strs Ohio’s holdings in Kraft Heinz were worth $11,065,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Horan Securities Inc. grew its holdings in Kraft Heinz by 206.4% during the 3rd quarter. Horan Securities Inc. now owns 766 shares of the company’s stock worth $26,000 after acquiring an additional 516 shares in the last quarter. O Dell Group LLC grew its stake in Kraft Heinz by 204.0% in the third quarter. O Dell Group LLC now owns 845 shares of the company’s stock worth $28,000 after purchasing an additional 567 shares in the last quarter. TD Capital Management LLC acquired a new stake in Kraft Heinz during the third quarter valued at approximately $29,000. Pittenger & Anderson Inc. bought a new position in Kraft Heinz during the 3rd quarter worth approximately $31,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Kraft Heinz by 70.7% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 1,026 shares of the company’s stock worth $35,000 after acquiring an additional 425 shares in the last quarter. Institutional investors and hedge funds own 68.80% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the topic of several research analyst reports. Piper Sandler raised their price objective on Kraft Heinz from $39.00 to $43.00 and gave the stock a “neutral” rating in a research note on Monday, February 13th. Wells Fargo & Company began coverage on shares of Kraft Heinz in a research report on Tuesday, January 3rd. They issued an “equal weight” rating and a $43.00 price target on the stock. UBS Group boosted their price objective on shares of Kraft Heinz from $37.00 to $40.00 and gave the company a “neutral” rating in a research report on Thursday, February 16th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Kraft Heinz from $49.00 to $46.00 and set a “buy” rating on the stock in a report on Monday, March 20th. Finally, Credit Suisse Group reaffirmed an “underperform” rating and set a $38.00 target price (up from $36.00) on shares of Kraft Heinz in a report on Thursday, February 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $42.67.

Insider Activity

In related news, EVP Flavio Torres sold 250,571 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $39.58, for a total transaction of $9,917,600.18. Following the sale, the executive vice president now owns 188,983 shares of the company’s stock, valued at $7,479,947.14. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Kraft Heinz news, EVP Melissa Werneck sold 3,500 shares of the company’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $42.39, for a total value of $148,365.00. Following the completion of the sale, the executive vice president now directly owns 266,583 shares of the company’s stock, valued at approximately $11,300,453.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Flavio Torres sold 250,571 shares of Kraft Heinz stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $39.58, for a total transaction of $9,917,600.18. Following the completion of the transaction, the executive vice president now directly owns 188,983 shares in the company, valued at approximately $7,479,947.14. The disclosure for this sale can be found here. Insiders own 1.40% of the company’s stock.

Kraft Heinz Stock Up 0.3 %

KHC opened at $39.14 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.87 and a quick ratio of 0.47. The Kraft Heinz Company has a 12 month low of $32.73 and a 12 month high of $44.87. The stock’s 50 day moving average price is $39.01 and its 200 day moving average price is $38.56. The stock has a market cap of $48.02 billion, a P/E ratio of 20.49, a P/E/G ratio of 3.54 and a beta of 0.69.

Kraft Heinz (NASDAQ:KHC – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The company had revenue of $7.38 billion for the quarter, compared to analyst estimates of $7.23 billion. Kraft Heinz had a return on equity of 7.03% and a net margin of 8.92%. The company’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.79 earnings per share. As a group, research analysts predict that The Kraft Heinz Company will post 2.71 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 10th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Thursday, March 9th. Kraft Heinz’s dividend payout ratio is currently 83.77%.

Kraft Heinz Profile

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The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015, and is headquartered in Pittsburgh, PA.