California Public Employees Retirement System Has $182.81 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

California Public Employees Retirement System trimmed its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 2.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,943,446 shares of the company’s stock after selling 108,389 shares during the quarter. California Public Employees Retirement System’s holdings in Kraft Heinz were worth $182,809,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Trust N.A. increased its holdings in shares of Kraft Heinz by 11.0% during the fourth quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock valued at $1,465,000 after acquiring an additional 3,916 shares in the last quarter. Hudson Bay Capital Management LP bought a new position in Kraft Heinz in the 3rd quarter valued at $5,399,000. Victory Capital Management Inc. grew its stake in Kraft Heinz by 16.3% in the 3rd quarter. Victory Capital Management Inc. now owns 1,768,073 shares of the company’s stock valued at $59,478,000 after purchasing an additional 247,896 shares during the period. Cerity Partners LLC grew its stake in shares of Kraft Heinz by 42.5% during the 4th quarter. Cerity Partners LLC now owns 457,923 shares of the company’s stock worth $16,934,000 after acquiring an additional 136,556 shares during the period. Finally, FMR LLC grew its stake in shares of Kraft Heinz by 37.9% during the 3rd quarter. FMR LLC now owns 3,029,052 shares of the company’s stock worth $101,897,000 after acquiring an additional 832,653 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC traded down $0.08 during trading on Tuesday, reaching $38.07. 941,757 shares of the company’s stock traded hands, compared to its average volume of 8,028,043. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $41.47. The firm has a market cap of $46.28 billion, a PE ratio of 16.52, a P/E/G ratio of 2.98 and a beta of 0.67. The company has a 50-day simple moving average of $35.94 and a 200-day simple moving average of $35.44.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The firm’s quarterly revenue was down 7.1% compared to the same quarter last year. As a group, analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.20%. Kraft Heinz’s dividend payout ratio is currently 69.26%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on KHC shares. Bank of America increased their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Monday, April 15th. Citigroup began coverage on Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 price target on the stock. Wells Fargo & Company lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $40.57.

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.