State of Alaska Department of Revenue Sells 34,910 Shares of The Kraft Heinz Company (NASDAQ:KHC)

State of Alaska Department of Revenue lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 19.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 147,779 shares of the company's stock after selling 34,910 shares during the period. State of Alaska Department of Revenue's holdings in Kraft Heinz were worth $5,187,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in KHC. New Covenant Trust Company N.A. purchased a new stake in Kraft Heinz during the 1st quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after acquiring an additional 797 shares in the last quarter. Bangor Savings Bank acquired a new position in Kraft Heinz during the 3rd quarter worth $32,000. Asset Dedication LLC raised its position in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company's stock valued at $32,000 after purchasing an additional 476 shares in the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt increased its stake in Kraft Heinz by 221.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,016 shares of the company's stock valued at $36,000 after purchasing an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Performance

KHC traded down $1.24 on Wednesday, hitting $33.56. 2,962,467 shares of the company's stock were exchanged, compared to its average volume of 7,720,603. The firm has a market cap of $40.75 billion, a PE ratio of 15.20, a P/E/G ratio of 3.48 and a beta of 0.49. The stock has a fifty day moving average of $35.27 and a two-hundred day moving average of $34.87. The Kraft Heinz Company has a twelve month low of $31.08 and a twelve month high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.79 EPS. On average, research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.77%. Kraft Heinz's dividend payout ratio (DPR) is currently 69.87%.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the business's stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares of the company's stock, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

KHC has been the subject of several research analyst reports. Barclays upped their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an "equal weight" rating in a report on Thursday, August 1st. Bank of America reduced their target price on Kraft Heinz from $42.00 to $38.00 and set a "buy" rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company boosted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an "equal weight" rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating for the company in a research report on Wednesday, July 31st. Finally, Citigroup dropped their price objective on Kraft Heinz from $41.00 to $39.00 and set a "buy" rating for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz has an average rating of "Hold" and a consensus target price of $37.58.

Kraft Heinz Company 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.