Handelsbanken Fonder AB Has $11.45 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Handelsbanken Fonder AB raised its position in The Kraft Heinz Company (NASDAQ:KHC) by 1.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 326,103 shares of the company’s stock after purchasing an additional 3,954 shares during the period. Handelsbanken Fonder AB’s holdings in Kraft Heinz were worth $11,449,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Shell Asset Management Co. boosted its position in shares of Kraft Heinz by 251.3% during the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after buying an additional 24,199 shares during the period. Clifford Capital Partners LLC boosted its holdings in Kraft Heinz by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock valued at $14,656,000 after purchasing an additional 80,101 shares during the period. Bridgewater Associates LP increased its stake in Kraft Heinz by 7.7% during the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock worth $61,450,000 after acquiring an additional 118,260 shares during the period. Lazard Asset Management LLC raised its holdings in Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after acquiring an additional 234,783 shares in the last quarter. Finally, Smith Thornton Advisors LLC bought a new position in shares of Kraft Heinz in the second quarter worth $654,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the business’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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of analyst reports. Piper Sandler reduced their price objective 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. Barclays boosted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Citigroup reduced their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Bank of America lowered their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Finally, Wells Fargo & Company lifted their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.45.

Kraft Heinz Stock Performance

KHC opened at $34.59 on Tuesday. 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 Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The company’s 50 day moving average price is $35.12 and its two-hundred day moving average price is $35.04. The firm has a market capitalization of $42.00 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 3.39 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The company 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%. Kraft Heinz’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.79 earnings per share. As a group, research analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

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.