Louisiana State Employees Retirement System Has $4.98 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Louisiana State Employees Retirement System lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141,900 shares of the company’s stock after acquiring an additional 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Kraft Heinz were worth $4,982,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of KHC. Clifford Capital Partners LLC raised its position in Kraft Heinz by 21.4% during the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after purchasing an additional 80,101 shares during the last quarter. Lazard Asset Management LLC raised its position in Kraft Heinz by 13.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after purchasing an additional 234,783 shares during the last quarter. Smith Thornton Advisors LLC bought a new position in Kraft Heinz during the 2nd quarter worth $654,000. MBB Public Markets I LLC bought a new position in Kraft Heinz during the 2nd quarter worth $2,001,000. Finally, Sei Investments Co. raised its position in Kraft Heinz by 12.8% during the 2nd quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock worth $24,495,000 after purchasing an additional 86,311 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup lowered their price objective on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, October 9th. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $40.00 to $38.00 in a research report on Friday. Finally, The Goldman Sachs Group assumed coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average price target of $37.58.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock opened at $34.74 on Friday. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96. The firm has a market capitalization of $42.00 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 3.48 and a beta of 0.49. The business has a 50-day simple moving average of $35.29 and a 200 day simple moving average of $34.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 EPS. On average, research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, August 30th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.61%. Kraft Heinz’s dividend payout ratio (DPR) is currently 102.56%.

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.