State of Michigan Retirement System Has $10.03 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

State of Michigan Retirement System lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHCFree Report) by 1.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 271,239 shares of the company’s stock after buying an additional 4,600 shares during the quarter. State of Michigan Retirement System’s holdings in Kraft Heinz were worth $10,030,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Kraft Heinz during the third quarter worth $26,000. Ancora Advisors LLC grew its holdings in Kraft Heinz by 69.9% in the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock worth $26,000 after purchasing an additional 272 shares during the period. Riverview Trust Co acquired a new stake in Kraft Heinz in the third quarter worth $27,000. BKM Wealth Management LLC acquired a new stake in Kraft Heinz in the fourth quarter worth $33,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in Kraft Heinz in the fourth quarter worth $35,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $37.39 on Wednesday. The firm has a market cap of $45.45 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 2.93 and a beta of 0.67. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $41.47. The firm’s 50-day simple moving average is $35.94 and its two-hundred day simple moving average is $35.10.

Kraft Heinz (NASDAQ:KHCGet Free Report) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The business had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. As a group, equities analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.28%. Kraft Heinz’s dividend payout ratio is presently 69.26%.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of research reports. Wells Fargo & Company reduced their price target on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a report on Thursday, February 15th. Citigroup started coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They issued a “buy” rating and a $43.00 price objective on the stock. Finally, Evercore ISI raised shares of Kraft Heinz from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $40.00 to $42.00 in a research note on Monday, December 11th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $40.57.

Read Our Latest Stock Analysis on Kraft Heinz

About Kraft Heinz

(Free Report)

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.

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Institutional Ownership by Quarter for Kraft Heinz (NASDAQ:KHC)

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