South Dakota Investment Council Acquires 15,800 Shares of Kraft Heinz Company $KHC

South Dakota Investment Council grew its holdings in Kraft Heinz Company (NASDAQ:KHC) by 55.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,173 shares of the company’s stock after purchasing an additional 15,800 shares during the period. South Dakota Investment Council’s holdings in Kraft Heinz were worth $1,141,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of KHC. OneDigital Investment Advisors LLC lifted its holdings in shares of Kraft Heinz by 34.1% during the 1st quarter. OneDigital Investment Advisors LLC now owns 25,218 shares of the company’s stock valued at $767,000 after buying an additional 6,416 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Kraft Heinz in the first quarter worth $33,000. World Investment Advisors grew its holdings in shares of Kraft Heinz by 3.8% in the first quarter. World Investment Advisors now owns 14,857 shares of the company’s stock worth $452,000 after acquiring an additional 546 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Kraft Heinz by 17.6% in the first quarter. Envestnet Asset Management Inc. now owns 1,363,192 shares of the company’s stock worth $41,482,000 after acquiring an additional 204,054 shares during the period. Finally, TD Private Client Wealth LLC grew its holdings in shares of Kraft Heinz by 7.9% in the first quarter. TD Private Client Wealth LLC now owns 41,484 shares of the company’s stock worth $1,262,000 after acquiring an additional 3,028 shares during the period. Institutional investors own 78.17% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on KHC. Stifel Nicolaus cut their price objective on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. The Goldman Sachs Group cut their price objective on Kraft Heinz from $30.00 to $27.00 in a report on Thursday, October 30th. HSBC cut their price objective on Kraft Heinz from $29.00 to $27.00 in a report on Thursday, October 30th. Evercore ISI cut their price objective on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating for the company in a report on Thursday, October 30th. Finally, TD Cowen cut their price objective on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Reduce” and a consensus price target of $26.58.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $24.17 on Wednesday. The stock has a 50-day simple moving average of $25.93 and a two-hundred day simple moving average of $26.87. Kraft Heinz Company has a 52-week low of $23.90 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.66 and a current ratio of 1.13. The firm has a market capitalization of $28.61 billion, a PE ratio of -6.48, a P/E/G ratio of 2.88 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. The business had revenue of $6.39 billion during the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. Analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.6%. Kraft Heinz’s dividend payout ratio is -42.90%.

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.