State of Tennessee Department of Treasury Trims Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

State of Tennessee Department of Treasury trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 333,796 shares of the company's stock after selling 13,964 shares during the quarter. State of Tennessee Department of Treasury's holdings in Kraft Heinz were worth $10,251,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock worth $2,779,524,000 after buying an additional 14,996,486 shares during the period. Norges Bank purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at approximately $324,857,000. Thompson Siegel & Walmsley LLC raised its position in Kraft Heinz by 96.4% during the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,858,253 shares of the company's stock worth $87,777,000 after acquiring an additional 1,403,220 shares during the period. Raymond James Financial Inc. purchased a new position in Kraft Heinz in the 4th quarter valued at about $39,339,000. Finally, Nordea Investment Management AB increased its position in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock worth $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Down 0.5 %

Shares of NASDAQ KHC traded down $0.15 during mid-day trading on Friday, hitting $29.49. The company had a trading volume of 8,152,654 shares, compared to its average volume of 9,091,858. The business's 50-day simple moving average is $30.07 and its 200 day simple moving average is $30.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.72. The company has a market capitalization of $35.19 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.43%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz's dividend payout ratio is presently 70.80%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on KHC shares. StockNews.com upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Jefferies Financial Group lowered their target price on Kraft Heinz from $34.00 to $30.00 and set a "hold" rating on the stock in a report on Wednesday, January 29th. Mizuho cut Kraft Heinz from an "outperform" rating to a "neutral" rating and cut their price target for the company from $38.00 to $31.00 in a report on Monday, February 10th. Morgan Stanley began coverage on Kraft Heinz in a research note on Monday, March 24th. They set an "underweight" rating and a $29.00 price objective on the stock. Finally, The Goldman Sachs Group dropped their target price on Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a report on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $30.69.

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.