Swedbank AB Increases Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Swedbank AB grew its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 6.9% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 775,689 shares of the company’s stock after buying an additional 50,063 shares during the period. Swedbank AB’s holdings in Kraft Heinz were worth $27,234,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Wesbanco Bank Inc. grew its position in Kraft Heinz by 17.3% during the third quarter. Wesbanco Bank Inc. now owns 11,281 shares of the company’s stock worth $396,000 after buying an additional 1,665 shares during the period. CX Institutional acquired a new position in Kraft Heinz during the third quarter worth about $340,000. Sapient Capital LLC acquired a new stake in shares of Kraft Heinz in the third quarter valued at approximately $213,000. Thomasville National Bank grew its position in shares of Kraft Heinz by 1.2% in the third quarter. Thomasville National Bank now owns 40,868 shares of the company’s stock valued at $1,435,000 after purchasing an additional 481 shares during the last quarter. Finally, Sound Income Strategies LLC grew its position in shares of Kraft Heinz by 4.8% in the third quarter. Sound Income Strategies LLC now owns 123,091 shares of the company’s stock valued at $4,322,000 after purchasing an additional 5,601 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Up 0.3 %

KHC stock opened at $35.81 on Thursday. The Kraft Heinz Company has a 52-week low of $31.08 and a 52-week high of $38.96. The company’s 50 day simple moving average is $35.17 and its 200-day simple moving average is $34.98. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The firm has a market capitalization of $43.48 billion, a P/E ratio of 15.64, a P/E/G ratio of 3.39 and a beta of 0.49.

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

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.47%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Analyst Ratings Changes

Several analysts have recently commented on KHC shares. Evercore ISI lowered their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Barclays raised their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Piper Sandler decreased their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research report on Thursday, June 20th. Wells Fargo & Company increased 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. Finally, Citigroup cut their price target on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $37.55.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now owns 143,970 shares in the company, valued at approximately $5,182,920. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

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.