Public Employees Retirement System of Ohio Sells 28,185 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Public Employees Retirement System of Ohio lessened its stake in The Kraft Heinz Company (NASDAQ:KHC) by 5.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,360 shares of the company’s stock after selling 28,185 shares during the period. Public Employees Retirement System of Ohio’s holdings in Kraft Heinz were worth $15,707,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. State Street Corp grew its holdings in Kraft Heinz by 16.7% during the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares during the period. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Kraft Heinz during the third quarter worth $411,304,000. LSV Asset Management increased its holdings in Kraft Heinz by 2.1% in the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after purchasing an additional 189,000 shares during the last quarter. Legal & General Group Plc lifted its stake in Kraft Heinz by 9.7% in the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after buying an additional 799,581 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after buying an additional 1,778,263 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Activity

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.37% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on KHC shares. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. The Goldman Sachs Group lowered their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Barclays decreased their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Mizuho lowered their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Stock Performance

Shares of KHC opened at $31.59 on Wednesday. The stock has a market capitalization of $38.20 billion, a price-to-earnings ratio of 28.46, a PEG ratio of 3.52 and a beta of 0.48. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. The firm has a fifty day simple moving average of $33.33 and a 200 day simple moving average of $33.90. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.72 EPS. Research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.06%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

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.