Swedbank AB Acquires 40,045 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Swedbank AB lifted its position in The Kraft Heinz Company (NASDAQ:KHC) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 725,626 shares of the company’s stock after buying an additional 40,045 shares during the quarter. Swedbank AB’s holdings in Kraft Heinz were worth $23,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. NBT Bank N A NY lifted its holdings in shares of Kraft Heinz by 2.2% in the first quarter. NBT Bank N A NY now owns 12,785 shares of the company’s stock worth $472,000 after buying an additional 270 shares in the last quarter. Welch Group LLC raised its stake in Kraft Heinz by 1.9% in the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after purchasing an additional 272 shares in the last quarter. Massmutual Trust Co. FSB ADV raised its stake in Kraft Heinz by 13.2% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after purchasing an additional 282 shares in the last quarter. Integrated Advisors Network LLC raised its stake in Kraft Heinz by 2.4% in the fourth quarter. Integrated Advisors Network LLC now owns 12,881 shares of the company’s stock valued at $476,000 after purchasing an additional 301 shares in the last quarter. Finally, Johnson Investment Counsel Inc. raised its stake in Kraft Heinz by 2.1% in the fourth quarter. Johnson Investment Counsel Inc. now owns 14,663 shares of the company’s stock valued at $542,000 after purchasing an additional 307 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Trading Up 1.3 %

NASDAQ:KHC traded up $0.43 during trading hours on Friday, hitting $34.62. The company had a trading volume of 11,467,730 shares, compared to its average volume of 8,053,112. The company has a market capitalization of $42.04 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53. The stock has a 50-day moving average price of $33.28 and a 200 day moving average price of $35.16. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.61.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. On average, equities research analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KHC shares. Evercore ISI lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler decreased their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. JPMorgan Chase & Co. decreased their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Citigroup decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Finally, Wells Fargo & Company lifted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz presently has an average rating of “Hold” and an average price target of $37.31.

Kraft Heinz 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.