California Public Employees Retirement System Raises Holdings in The Kraft Heinz Company (NASDAQ:KHC)

California Public Employees Retirement System boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 5,687,502 shares of the company’s stock after acquiring an additional 12,583 shares during the quarter. California Public Employees Retirement System’s holdings in Kraft Heinz were worth $174,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KHC. Vanguard Group Inc. boosted its stake in Kraft Heinz by 19.9% during the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock worth $2,779,524,000 after buying an additional 14,996,486 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Kraft Heinz during the 3rd quarter valued at about $411,304,000. Norges Bank purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $324,857,000. State Street Corp increased its position in Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Kraft Heinz by 11.3% during the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on KHC. Barclays cut their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a report on Friday, February 14th. Morgan Stanley assumed coverage on Kraft Heinz in a research report on Monday, March 24th. They issued an “underweight” rating and a $29.00 target price on the stock. The Goldman Sachs Group lowered their price target on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. Piper Sandler reduced their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a report on Thursday, February 13th. Finally, Wells Fargo & Company decreased their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company’s stock. According to MarketBeat, Kraft Heinz has an average rating of “Hold” and a consensus price target of $30.73.

Kraft Heinz Price Performance

KHC stock opened at $30.24 on Monday. The business’s 50-day moving average is $29.99 and its two-hundred day moving average is $31.69. The firm has a market capitalization of $36.14 billion, a P/E ratio of 13.38, a P/E/G ratio of 3.39 and a beta of 0.40. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.29%. The ex-dividend date of this dividend was Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is 70.80%.

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.