California Public Employees Retirement System Has $69.41 Million Stake in Kraft Heinz Company $KHC

California Public Employees Retirement System reduced its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 17.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,665,559 shares of the company’s stock after selling 561,154 shares during the period. California Public Employees Retirement System owned 0.23% of Kraft Heinz worth $69,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Kraft Heinz by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 102,435,702 shares of the company’s stock valued at $2,644,890,000 after acquiring an additional 454,868 shares in the last quarter. State Street Corp boosted its position in Kraft Heinz by 1.0% during the second quarter. State Street Corp now owns 46,376,394 shares of the company’s stock worth $1,197,438,000 after purchasing an additional 462,963 shares during the period. Invesco Ltd. boosted its position in Kraft Heinz by 1.5% during the third quarter. Invesco Ltd. now owns 17,855,352 shares of the company’s stock worth $464,953,000 after purchasing an additional 270,678 shares during the period. Nordea Investment Management AB grew its holdings in Kraft Heinz by 75.1% during the third quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock valued at $351,263,000 after purchasing an additional 5,873,967 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Kraft Heinz in the second quarter valued at approximately $276,159,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Kraft Heinz from $26.00 to $23.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Zacks Research downgraded shares of Kraft Heinz from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Barclays boosted their target price on shares of Kraft Heinz from $24.00 to $25.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 12th. UBS Group upped their price target on shares of Kraft Heinz from $24.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. lowered Kraft Heinz from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $24.00 to $22.00 in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and a consensus target price of $24.78.

Kraft Heinz Trading Up 0.6%

Shares of Kraft Heinz stock opened at $22.71 on Tuesday. Kraft Heinz Company has a 1 year low of $21.99 and a 1 year high of $31.15. The company’s fifty day simple moving average is $23.89 and its 200-day simple moving average is $24.77. The company has a market cap of $26.88 billion, a price-to-earnings ratio of -4.60 and a beta of 0.06. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, February 11th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.61 by $0.06. Kraft Heinz had a negative net margin of 23.44% and a positive return on equity of 7.07%. The firm had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same period in the prior year, the company earned $0.84 EPS. The business’s quarterly revenue was down 3.4% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. As a group, sell-side analysts expect that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.0%. Kraft Heinz’s dividend payout ratio is currently -32.39%.

Insider Activity

In related news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the completion of the sale, the insider owned 686,817 shares in the company, valued at approximately $17,046,797.94. This trade represents a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cory Onell sold 4,991 shares of Kraft Heinz stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $24.34, for a total value of $121,480.94. Following the sale, the insider directly owned 197,463 shares in the company, valued at approximately $4,806,249.42. This trade represents a 2.47% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 139,036 shares of company stock valued at $3,446,578. 0.35% of the stock is owned by corporate insiders.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.