New York State Teachers Retirement System Sells 59,306 Shares of Kraft Heinz Company (NASDAQ:KHC)

New York State Teachers Retirement System lessened its stake in Kraft Heinz Company (NASDAQ:KHC) by 9.1% during the first quarter, HoldingsChannel reports. The firm owned 590,735 shares of the company’s stock after selling 59,306 shares during the period. New York State Teachers Retirement System’s holdings in Kraft Heinz were worth $17,976,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the company. Generali Investments Management Co LLC bought a new position in Kraft Heinz in the 4th quarter worth about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at $29,000. OFI Invest Asset Management bought a new stake in Kraft Heinz during the fourth quarter worth about $36,000. Pinney & Scofield Inc. purchased a new stake in Kraft Heinz in the fourth quarter worth approximately $38,000. Finally, Abound Wealth Management boosted its stake in shares of Kraft Heinz by 1,157.0% in the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company’s stock valued at $38,000 after purchasing an additional 1,157 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $27.06 on Thursday. The firm has a 50 day moving average of $27.09 and a 200 day moving average of $28.93. The firm has a market capitalization of $32.03 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 3.11 and a beta of 0.25. Kraft Heinz Company has a 12-month low of $25.44 and a 12-month high of $36.53. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.69 EPS. On average, research analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend was Friday, May 30th. Kraft Heinz’s dividend payout ratio is currently 73.06%.

Analyst Ratings Changes

Several equities analysts recently issued reports on KHC shares. Sanford C. Bernstein lowered Kraft Heinz from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Cfra Research lowered shares of Kraft Heinz from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 16th. The Goldman Sachs Group upgraded shares of Kraft Heinz from a “sell” rating to a “neutral” rating and boosted their target price for the company from $25.00 to $27.00 in a report on Wednesday, June 25th. Citigroup restated a “sell” rating and issued a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Finally, Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the company a “neutral” rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. Based on data from MarketBeat, Kraft Heinz has an average rating of “Hold” and an average price target of $30.47.

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.