Illinois Municipal Retirement Fund Has $17.83 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Illinois Municipal Retirement Fund lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 580,526 shares of the company’s stock after purchasing an additional 34,002 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Kraft Heinz were worth $17,828,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sawyer & Company Inc acquired a new stake in shares of Kraft Heinz during the fourth quarter worth about $25,000. Fortitude Family Office LLC grew its holdings in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz during the third quarter worth about $27,000. Capital Performance Advisors LLP bought a new position in shares of Kraft Heinz during the third quarter worth about $33,000. Finally, Larson Financial Group LLC grew its holdings in shares of Kraft Heinz by 191.0% during the third quarter. Larson Financial Group LLC now owns 969 shares of the company’s stock worth $34,000 after buying an additional 636 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on KHC shares. The Goldman Sachs Group decreased their price objective on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. Bank of America downgraded Kraft Heinz from a “buy” rating to an “underperform” rating and decreased their price objective for the stock from $36.00 to $30.00 in a report on Thursday, February 13th. Stifel Nicolaus decreased their price target on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. Mizuho downgraded Kraft Heinz from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Finally, Evercore ISI restated an “in-line” rating and issued a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $31.36 on Tuesday. The stock has a market cap of $37.47 billion, a P/E ratio of 13.88, a PEG ratio of 3.39 and a beta of 0.47. The stock has a 50 day simple moving average of $29.74 and a 200 day simple moving average of $32.50. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 1-year low of $27.25 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Research analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.10%. Kraft Heinz’s dividend payout ratio is presently 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.