California Public Employees Retirement System Buys 2,116,175 Shares of Kraft Heinz Company $KHC

California Public Employees Retirement System raised its stake in Kraft Heinz Company (NASDAQ:KHC) by 94.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,347,594 shares of the company’s stock after acquiring an additional 2,116,175 shares during the quarter. California Public Employees Retirement System’s holdings in Kraft Heinz were worth $97,777,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Graney & King LLC increased its stake in shares of Kraft Heinz by 20.5% during the 4th quarter. Graney & King LLC now owns 2,560 shares of the company’s stock worth $62,000 after purchasing an additional 435 shares during the last quarter. V Square Quantitative Management LLC lifted its stake in Kraft Heinz by 3.2% in the fourth quarter. V Square Quantitative Management LLC now owns 14,892 shares of the company’s stock valued at $361,000 after purchasing an additional 458 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in Kraft Heinz by 1.7% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 29,623 shares of the company’s stock valued at $718,000 after purchasing an additional 490 shares during the last quarter. New England Capital Financial Advisors LLC grew its holdings in Kraft Heinz by 70.2% during the fourth quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company’s stock valued at $30,000 after purchasing an additional 511 shares during the period. Finally, Deseret Mutual Benefit Administrators grew its holdings in Kraft Heinz by 6.6% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 8,281 shares of the company’s stock valued at $201,000 after purchasing an additional 515 shares during the period. 78.17% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Diana Frost sold 18,502 shares of the firm’s stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $23.05, for a total value of $426,471.10. Following the completion of the transaction, the insider directly owned 102,667 shares in the company, valued at approximately $2,366,474.35. This trade represents a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.24% of the company’s stock.

Kraft Heinz Trading Down 1.3%

NASDAQ:KHC opened at $25.88 on Friday. Kraft Heinz Company has a 1 year low of $21.03 and a 1 year high of $29.19. The stock’s fifty day moving average price is $23.91 and its two-hundred day moving average price is $23.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.20 and a quick ratio of 0.82. The company has a market cap of $30.69 billion, a P/E ratio of -5.33 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.08. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 23.05%.The company had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the previous year, the business earned $0.62 earnings per share. The firm’s quarterly revenue was up .8% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. As a group, analysts expect that Kraft Heinz Company will post 2.07 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 5th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Friday, June 5th. Kraft Heinz’s dividend payout ratio is presently -32.92%.

Wall Street Analysts Forecast Growth

KHC has been the topic of several research reports. Morgan Stanley set a $22.00 target price on Kraft Heinz in a research note on Thursday, April 23rd. Piper Sandler increased their price target on Kraft Heinz from $23.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, June 25th. Jefferies Financial Group decreased their price objective on Kraft Heinz from $23.00 to $20.00 and set a “hold” rating for the company in a report on Monday, March 30th. Sanford C. Bernstein cut Kraft Heinz from a “market perform” rating to an “underperform” rating and lowered their price objective for the company from $25.00 to $21.00 in a research note on Wednesday, June 3rd. Finally, JPMorgan Chase & Co. upped their price objective on shares of Kraft Heinz from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Hold rating and five have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $23.12.

Kraft Heinz Company Profile

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.