Kentucky Retirement Systems Has $1.86 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Kentucky Retirement Systems cut its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,653 shares of the company’s stock after selling 836 shares during the quarter. Kentucky Retirement Systems’ holdings in Kraft Heinz were worth $1,863,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Handelsbanken Fonder AB increased its position in shares of Kraft Heinz by 29.1% during the fourth quarter. Handelsbanken Fonder AB now owns 420,974 shares of the company’s stock worth $12,928,000 after buying an additional 94,871 shares during the period. LMG Wealth Partners LLC increased its position in shares of Kraft Heinz by 1.4% during the fourth quarter. LMG Wealth Partners LLC now owns 37,040 shares of the company’s stock worth $1,137,000 after buying an additional 498 shares during the period. Private Advisor Group LLC grew its holdings in Kraft Heinz by 5.4% in the fourth quarter. Private Advisor Group LLC now owns 67,612 shares of the company’s stock worth $2,076,000 after purchasing an additional 3,470 shares during the period. Good Life Advisors LLC grew its holdings in Kraft Heinz by 5.4% in the fourth quarter. Good Life Advisors LLC now owns 9,715 shares of the company’s stock worth $298,000 after purchasing an additional 499 shares during the period. Finally, Financial Management Network Inc. acquired a new stake in Kraft Heinz in the fourth quarter worth $295,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on KHC shares. The Goldman Sachs Group reduced their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. Bank of America cut shares of Kraft Heinz from a “buy” rating to an “underperform” rating and reduced their price target for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price target for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Mizuho cut shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $38.00 to $31.00 in a report on Monday, February 10th. Finally, Piper Sandler reduced their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $30.86.

Kraft Heinz Stock Up 3.2 %

KHC opened at $31.13 on Friday. 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 company’s 50-day moving average is $29.73 and its 200 day moving average is $32.54. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The firm has a market capitalization of $37.20 billion, a P/E ratio of 13.77, a PEG ratio of 3.39 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating 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%. Research analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.14%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio is 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.