Strs Ohio Sells 4,245 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Posted by Defense World Staff on Jul 16th, 2023

Strs Ohio reduced its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC – Free Report) by 1.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 267,575 shares of the company’s stock after selling 4,245 shares during the quarter. Strs Ohio’s holdings in Kraft Heinz were worth $10,347,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Securian Asset Management Inc. grew its stake in shares of Kraft Heinz by 0.6% during the first quarter. Securian Asset Management Inc. now owns 65,795 shares of the company’s stock worth $2,544,000 after buying an additional 403 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in Kraft Heinz by 17.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 20,388 shares of the company’s stock worth $788,000 after acquiring an additional 3,033 shares during the last quarter. WESPAC Advisors LLC acquired a new position in Kraft Heinz in the 1st quarter worth about $1,438,000. Benedetti & Gucer Inc. bought a new position in Kraft Heinz in the first quarter valued at about $425,000. Finally, CVA Family Office LLC boosted its stake in shares of Kraft Heinz by 15.7% during the first quarter. CVA Family Office LLC now owns 4,540 shares of the company’s stock valued at $176,000 after purchasing an additional 615 shares in the last quarter. 72.13% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

KHC opened at $35.85 on Friday. The Kraft Heinz Company has a 1-year low of $32.73 and a 1-year high of $42.80. The company has a market cap of $44.00 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 2.78 and a beta of 0.66. The company’s fifty day moving average price is $37.40 and its two-hundred day moving average price is $38.85. The company has a current ratio of 0.92, a quick ratio of 0.47 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last announced its quarterly earnings results on Wednesday, May 3rd. The company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.08. The business had revenue of $6.49 billion for the quarter, compared to analysts’ expectations of $6.39 billion. Kraft Heinz had a net margin of 9.00% and a return on equity of 7.26%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. On average, analysts expect that The Kraft Heinz Company will post 2.87 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Tuesday, June 6th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.46%. The ex-dividend date was Monday, June 5th. Kraft Heinz’s dividend payout ratio (DPR) is presently 81.63%.

Analyst Upgrades and Downgrades

Several research analysts have commented on KHC shares. Bank of America lifted their target price on Kraft Heinz from $48.00 to $50.00 in a report on Thursday, May 4th. Morgan Stanley decreased their target price on shares of Kraft Heinz from $44.00 to $39.00 in a research report on Wednesday, June 14th. StockNews.com downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Wednesday, June 14th. Piper Sandler decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 in a research report on Monday, June 26th. Finally, Barclays boosted their target price on shares of Kraft Heinz from $42.00 to $44.00 in a report on Friday, May 5th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $43.23.

Insiders Place Their Bets

In related news, CAO Lande Rashida La sold 25,000 shares of the firm’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $41.00, for a total transaction of $1,025,000.00. Following the transaction, the chief accounting officer now directly owns 234,084 shares of the company’s stock, valued at $9,597,444. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Company Profile

(Free Report)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.