The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lowered its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 303,166 shares of the company's stock after selling 23,082 shares during the period. State of New Jersey Common Pension Fund D's holdings in Kraft Heinz were worth $9,310,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Americana Partners LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at $7,005,000. Philip James Wealth Mangement LLC raised its holdings in Kraft Heinz by 1.6% during the fourth quarter. Philip James Wealth Mangement LLC now owns 178,823 shares of the company's stock worth $5,492,000 after purchasing an additional 2,835 shares during the last quarter. J.W. Cole Advisors Inc. boosted its position in Kraft Heinz by 86.1% during the fourth quarter. J.W. Cole Advisors Inc. now owns 11,677 shares of the company's stock worth $359,000 after purchasing an additional 5,404 shares in the last quarter. Hourglass Capital LLC grew its holdings in Kraft Heinz by 2.0% in the fourth quarter. Hourglass Capital LLC now owns 155,590 shares of the company's stock valued at $4,778,000 after purchasing an additional 3,040 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Kraft Heinz by 67.3% in the fourth quarter. Allworth Financial LP now owns 22,719 shares of the company's stock valued at $660,000 after buying an additional 9,139 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Analyst Ratings Changes

KHC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and decreased their price objective for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. Barclays lowered their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an "equal weight" rating on the stock in a research report on Friday, February 14th. Piper Sandler dropped their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. UBS Group reduced their target price on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Finally, Citigroup downgraded Kraft Heinz from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $34.00 to $28.00 in a research report on Thursday, February 13th. Three analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.86.

Kraft Heinz Trading Up 3.2 %

Kraft Heinz stock traded up $0.97 during trading on Friday, hitting $31.13. The company's stock had a trading volume of 14,695,925 shares, compared to its average volume of 10,055,061. The stock's fifty day moving average is $29.74 and its 200 day moving average is $32.59. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96. The stock has a market capitalization of $37.20 billion, a price-to-earnings ratio of 13.77, a P/E/G ratio of 3.34 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. As a group, equities research analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.14%. Kraft Heinz's payout ratio is currently 70.80%.

Kraft Heinz 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.