Arizona State Retirement System Boosts Position in Kraft Heinz Co (KHC)

Arizona State Retirement System boosted its stake in Kraft Heinz Co (NASDAQ:KHC) by 2.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 214,991 shares of the company’s stock after purchasing an additional 5,328 shares during the period. Arizona State Retirement System’s holdings in Kraft Heinz were worth $11,848,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Captrust Financial Advisors lifted its position in shares of Kraft Heinz by 8.3% during the 2nd quarter. Captrust Financial Advisors now owns 11,404 shares of the company’s stock worth $716,000 after purchasing an additional 870 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in shares of Kraft Heinz by 64.7% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 2,278 shares of the company’s stock worth $143,000 after purchasing an additional 895 shares during the last quarter. World Asset Management Inc lifted its position in shares of Kraft Heinz by 2.5% during the 2nd quarter. World Asset Management Inc now owns 36,493 shares of the company’s stock worth $2,292,000 after purchasing an additional 903 shares during the last quarter. Redmond Asset Management LLC lifted its position in shares of Kraft Heinz by 20.1% during the 2nd quarter. Redmond Asset Management LLC now owns 5,454 shares of the company’s stock worth $343,000 after purchasing an additional 912 shares during the last quarter. Finally, Cobiz Wealth LLC lifted its position in shares of Kraft Heinz by 1.8% during the 3rd quarter. Cobiz Wealth LLC now owns 50,987 shares of the company’s stock worth $2,810,000 after purchasing an additional 920 shares during the last quarter. Hedge funds and other institutional investors own 63.02% of the company’s stock.

Shares of KHC opened at $56.20 on Friday. Kraft Heinz Co has a 1-year low of $53.03 and a 1-year high of $82.48. The firm has a market capitalization of $68.10 billion, a P/E ratio of 15.43, a P/E/G ratio of 1.98 and a beta of 0.51. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.05 and a quick ratio of 0.70.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Thursday, November 1st. The company reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by ($0.03). Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the firm earned $0.83 earnings per share. Kraft Heinz’s revenue was up 1.6% on a year-over-year basis. As a group, sell-side analysts predict that Kraft Heinz Co will post 3.69 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be paid a $0.625 dividend. This represents a $2.50 dividend on an annualized basis and a yield of 4.45%. Kraft Heinz’s dividend payout ratio is presently 70.42%.

Several research firms have recently issued reports on KHC. ValuEngine raised shares of Kraft Heinz from a “strong sell” rating to a “sell” rating in a research report on Friday, October 19th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. BidaskClub raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Credit Suisse Group raised shares of Kraft Heinz to a “hold” rating and set a $52.00 price objective for the company in a research report on Thursday, October 4th. Finally, Morgan Stanley initiated coverage on shares of Kraft Heinz in a research report on Monday, September 17th. They issued an “underweight” rating and a $52.00 price target for the company. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Kraft Heinz has a consensus rating of “Hold” and an average price target of $72.02.

In other Kraft Heinz news, EVP Eduardo Pelleissone sold 35,000 shares of Kraft Heinz stock in a transaction on Monday, August 6th. The shares were sold at an average price of $63.85, for a total value of $2,234,750.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of Kraft Heinz stock in a transaction on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total transaction of $1,234,724,292.90. The disclosure for this sale can be found here. Insiders own 26.81% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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