California State Teachers Retirement System increased its stake in Kraft Heinz Co (NASDAQ:KHC) by 6.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,127,819 shares of the company’s stock after purchasing an additional 68,766 shares during the period. California State Teachers Retirement System owned 0.09% of Kraft Heinz worth $87,699,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. BB&T Investment Services Inc. acquired a new stake in Kraft Heinz during the 2nd quarter valued at approximately $796,000. National Asset Management Inc. lifted its stake in Kraft Heinz by 8.6% during the 2nd quarter. National Asset Management Inc. now owns 4,860 shares of the company’s stock valued at $417,000 after acquiring an additional 383 shares during the period. Verition Fund Management LLC lifted its stake in Kraft Heinz by 20.3% during the 2nd quarter. Verition Fund Management LLC now owns 5,749 shares of the company’s stock valued at $492,000 after acquiring an additional 970 shares during the period. High Falls Advisors Inc lifted its stake in Kraft Heinz by 9.1% during the 2nd quarter. High Falls Advisors Inc now owns 3,592 shares of the company’s stock valued at $308,000 after acquiring an additional 300 shares during the period. Finally, Colony Group LLC acquired a new stake in Kraft Heinz during the 2nd quarter valued at approximately $232,000. Institutional investors own 63.24% of the company’s stock.
Several equities analysts recently issued reports on KHC shares. Credit Suisse Group upgraded shares of Kraft Heinz to a “buy” rating and set a $77.00 target price for the company in a research note on Monday, February 26th. DZ Bank upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating in a research note on Tuesday, February 20th. Barclays reiterated a “buy” rating and issued a $80.00 target price (down from $94.00) on shares of Kraft Heinz in a research note on Sunday, February 18th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $94.00 target price (up from $90.00) on shares of Kraft Heinz in a research note on Tuesday, January 30th. Finally, Argus reiterated a “buy” rating and issued a $74.00 target price (down from $93.00) on shares of Kraft Heinz in a research note on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $85.78.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Friday, February 16th. The company reported $0.90 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.06). The company had revenue of $6.88 billion during the quarter, compared to analysts’ expectations of $6.91 billion. Kraft Heinz had a return on equity of 7.20% and a net margin of 41.93%. Kraft Heinz’s revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. analysts expect that Kraft Heinz Co will post 3.85 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Investors of record on Friday, March 9th will be issued a $0.625 dividend. This represents a $2.50 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Thursday, March 8th. Kraft Heinz’s payout ratio is presently 76.69%.
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Kraft Heinz Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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