State Board of Administration of Florida Retirement System grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 915,390 shares of the company’s stock after purchasing an additional 10,142 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.07% of The Kraft Heinz worth $37,330,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in KHC. Bbva USA acquired a new position in shares of The Kraft Heinz in the 2nd quarter valued at $28,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of The Kraft Heinz in the 1st quarter valued at $30,000. Cypress Capital Management LLC WY acquired a new position in shares of The Kraft Heinz in the 1st quarter valued at $32,000. Harvest Fund Management Co. Ltd acquired a new position in shares of The Kraft Heinz in the 1st quarter valued at $32,000. Finally, BDO Wealth Advisors LLC increased its holdings in shares of The Kraft Heinz by 64.1% in the 1st quarter. BDO Wealth Advisors LLC now owns 855 shares of the company’s stock valued at $34,000 after acquiring an additional 334 shares during the period. 61.25% of the stock is currently owned by institutional investors.
A number of brokerages have recently commented on KHC. Zacks Investment Research cut shares of The Kraft Heinz from a “hold” rating to a “sell” rating and set a $43.00 target price on the stock. in a report on Wednesday, June 30th. Morgan Stanley dropped their price objective on shares of The Kraft Heinz from $41.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 5th. Piper Sandler dropped their price objective on shares of The Kraft Heinz from $41.00 to $39.00 and set a “neutral” rating on the stock in a research note on Friday, August 20th. Finally, Credit Suisse Group dropped their price objective on shares of The Kraft Heinz from $38.00 to $33.00 and set an “underperform” rating on the stock in a research note on Thursday, August 5th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $39.27.
The Kraft Heinz stock opened at $36.21 on Wednesday. The Kraft Heinz Company has a 52 week low of $28.56 and a 52 week high of $44.95. The company has a quick ratio of 0.87, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. The firm’s 50-day simple moving average is $37.74 and its 200 day simple moving average is $39.97. The firm has a market capitalization of $44.30 billion, a PE ratio of 20.46, a P/E/G ratio of 2.70 and a beta of 1.12.
The Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, August 4th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.06. The company had revenue of $6.62 billion for the quarter, compared to analyst estimates of $6.55 billion. The Kraft Heinz had a net margin of 8.20% and a return on equity of 7.34%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 EPS. On average, research analysts expect that The Kraft Heinz Company will post 2.69 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 24th. Investors of record on Wednesday, September 1st will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date is Tuesday, August 31st. The Kraft Heinz’s dividend payout ratio (DPR) is presently 55.56%.
About The Kraft Heinz
The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its products include condiments and sauces, cheese and dairy, ambient meals, frozen and chilled meals and for infant and nutrition.
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