New York State Teachers Retirement System Cuts Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

New York State Teachers Retirement System trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 1.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 665,238 shares of the company’s stock after selling 7,956 shares during the period. New York State Teachers Retirement System owned 0.05% of Kraft Heinz worth $23,357,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of KHC. Fortitude Family Office LLC grew its stake in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. New Covenant Trust Company N.A. purchased a new position in Kraft Heinz during the first quarter valued at $27,000. DiNuzzo Private Wealth Inc. grew its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after acquiring an additional 797 shares in the last quarter. Asset Dedication LLC grew its stake in Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Finally, Bangor Savings Bank purchased a new position in Kraft Heinz during the third quarter valued at $32,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $33.46 on Friday. The firm has a 50-day moving average price of $35.20 and a 200-day moving average price of $34.85. The firm has a market capitalization of $40.63 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12-month low of $31.08 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business earned $0.72 EPS. As a group, equities research analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 4.78%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Wall Street Analysts Forecast Growth

KHC has been the subject of several research analyst reports. Mizuho cut their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday. Piper Sandler dropped their price objective on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Evercore ISI dropped their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. Finally, Citigroup dropped their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $37.23.

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.