Public Employees Retirement System of Ohio Has $7.92 Million Stake in Kraft Heinz Company $KHC

Public Employees Retirement System of Ohio decreased its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 16.1% during the second quarter, HoldingsChannel.com reports. The fund owned 306,584 shares of the company’s stock after selling 58,931 shares during the period. Public Employees Retirement System of Ohio’s holdings in Kraft Heinz were worth $7,916,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Klingenstein Fields & Co. LP increased its holdings in shares of Kraft Heinz by 4.6% during the 1st quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company’s stock valued at $239,000 after acquiring an additional 344 shares during the last quarter. Meeder Advisory Services Inc. grew its holdings in Kraft Heinz by 2.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company’s stock valued at $459,000 after buying an additional 393 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in Kraft Heinz by 1.6% in the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company’s stock valued at $779,000 after buying an additional 397 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Kraft Heinz by 0.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company’s stock valued at $2,101,000 after buying an additional 397 shares during the last quarter. Finally, one8zero8 LLC grew its holdings in Kraft Heinz by 5.5% in the 1st quarter. one8zero8 LLC now owns 7,964 shares of the company’s stock valued at $242,000 after buying an additional 414 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $26.05 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66. The company has a market capitalization of $30.83 billion, a PE ratio of -5.80, a price-to-earnings-growth ratio of 3.04 and a beta of 0.23. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.31. The business has a 50 day simple moving average of $27.27 and a 200 day simple moving average of $27.71.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, July 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.64 by $0.05. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.Kraft Heinz’s revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. On average, sell-side analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 6.1%. The ex-dividend date was Friday, August 29th. Kraft Heinz’s dividend payout ratio (DPR) is -35.63%.

Insider Activity at Kraft Heinz

In related news, Director Elio Leoni Sceti sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at $1,116,400. This trade represents a 38.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.35% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KHC shares. UBS Group set a $28.00 target price on Kraft Heinz and gave the company a “neutral” rating in a report on Thursday, September 4th. Wells Fargo & Company reduced their price objective on Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. initiated coverage on Kraft Heinz in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $27.00 price objective for the company. The Goldman Sachs Group upgraded Kraft Heinz from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Finally, Morgan Stanley set a $29.00 price objective on Kraft Heinz and gave the stock an “equal weight” rating in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $29.76.

About Kraft Heinz

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.