Municipal Employees Retirement System of Michigan cut its stake in Kraft Heinz Co (NASDAQ:KHC) by 66.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,420 shares of the company’s stock after selling 30,380 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Kraft Heinz were worth $1,199,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Aspen Investment Management Inc lifted its holdings in shares of Kraft Heinz by 17.6% during the 3rd quarter. Aspen Investment Management Inc now owns 4,334 shares of the company’s stock worth $336,000 after acquiring an additional 650 shares during the period. National Planning Corp lifted its holdings in shares of Kraft Heinz by 7.9% during the 3rd quarter. National Planning Corp now owns 9,009 shares of the company’s stock worth $701,000 after acquiring an additional 660 shares during the period. Greatmark Investment Partners Inc. lifted its holdings in shares of Kraft Heinz by 13.7% during the 3rd quarter. Greatmark Investment Partners Inc. now owns 5,618 shares of the company’s stock worth $436,000 after acquiring an additional 675 shares during the period. Perennial Advisors LLC lifted its holdings in shares of Kraft Heinz by 6.0% during the 3rd quarter. Perennial Advisors LLC now owns 12,239 shares of the company’s stock worth $949,000 after acquiring an additional 690 shares during the period. Finally, Capital Guardian Trust Co. lifted its holdings in shares of Kraft Heinz by 0.4% during the 3rd quarter. Capital Guardian Trust Co. now owns 162,092 shares of the company’s stock worth $12,570,000 after acquiring an additional 692 shares during the period. 63.22% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have recently commented on KHC. Morgan Stanley reduced their price objective on shares of Kraft Heinz from $88.00 to $80.00 and set an “overweight” rating for the company in a report on Tuesday, February 20th. Societe Generale began coverage on shares of Kraft Heinz in a report on Thursday, March 15th. They set a “sell” rating for the company. Susquehanna Bancshares reduced their price objective on shares of Kraft Heinz from $80.00 to $77.00 and set a “neutral” rating for the company in a report on Thursday, February 15th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a report on Friday, December 29th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and set a $77.00 price objective (down from $92.00) on shares of Kraft Heinz in a report on Tuesday, February 20th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Kraft Heinz presently has a consensus rating of “Buy” and a consensus target price of $85.78.
KHC stock opened at $63.18 on Wednesday. Kraft Heinz Co has a 1-year low of $62.82 and a 1-year high of $93.88. The stock has a market cap of $77,947.12, a PE ratio of 18.01, a P/E/G ratio of 1.73 and a beta of 0.58. The company has a current ratio of 0.72, a quick ratio of 0.44 and a debt-to-equity ratio of 0.43.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Friday, February 16th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.96 by ($0.06). Kraft Heinz had a net margin of 41.93% and a return on equity of 7.20%. The firm had revenue of $6.88 billion for the quarter, compared to the consensus estimate of $6.91 billion. During the same period in the prior year, the business earned $0.08 earnings per share. The company’s revenue for the quarter was up .3% on a year-over-year basis. equities analysts predict that Kraft Heinz Co will post 3.85 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Thursday, March 8th. Kraft Heinz’s dividend payout ratio is currently 27.90%.
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Kraft Heinz Company Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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