State of Michigan Retirement System Has $9.65 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

State of Michigan Retirement System boosted its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 314,139 shares of the company’s stock after purchasing an additional 20,400 shares during the period. State of Michigan Retirement System’s holdings in Kraft Heinz were worth $9,647,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of KHC. Sawyer & Company Inc bought a new stake in shares of Kraft Heinz during the 4th quarter worth approximately $25,000. Ashton Thomas Securities LLC acquired a new position in Kraft Heinz during the third quarter worth $27,000. Capital Performance Advisors LLP bought a new stake in Kraft Heinz during the third quarter worth $33,000. Larson Financial Group LLC lifted its stake in Kraft Heinz by 191.0% in the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock valued at $34,000 after acquiring an additional 636 shares during the last quarter. Finally, R Squared Ltd bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $34,000. 78.17% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KHC shares. StockNews.com cut shares of Kraft Heinz from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Citigroup lowered Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $28.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. reduced their target price on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. UBS Group dropped their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Stifel Nicolaus reduced their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Trading Up 0.0 %

Shares of Kraft Heinz stock opened at $30.99 on Thursday. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The stock has a market cap of $37.03 billion, a PE ratio of 13.71, a PEG ratio of 3.39 and a beta of 0.40. The firm has a 50-day moving average of $29.80 and a 200-day moving average of $32.34. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. As a group, sell-side analysts forecast that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio is currently 70.80%.

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.