Forsta AP Fonden cut its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 20.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,400 shares of the company's stock after selling 56,600 shares during the quarter. Forsta AP Fonden's holdings in Kraft Heinz were worth $6,585,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of KHC. Rossby Financial LCC purchased a new position in Kraft Heinz in the first quarter worth $29,000. Wayfinding Financial LLC purchased a new position in Kraft Heinz in the first quarter worth $33,000. Investment Management Corp VA ADV raised its position in Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after acquiring an additional 669 shares in the last quarter. Pinney & Scofield Inc. purchased a new position in Kraft Heinz in the fourth quarter worth $38,000. Finally, Abound Wealth Management raised its position in Kraft Heinz by 1,157.0% in the first quarter. Abound Wealth Management now owns 1,257 shares of the company's stock worth $38,000 after acquiring an additional 1,157 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.
Kraft Heinz Price Performance
Kraft Heinz stock traded down $0.37 during midday trading on Thursday, reaching $27.65. 15,028,768 shares of the company were exchanged, compared to its average volume of 12,481,639. The company has a market capitalization of $32.73 billion, a price-to-earnings ratio of -6.16, a P/E/G ratio of 3.19 and a beta of 0.23. The firm's 50-day simple moving average is $26.98 and its 200-day simple moving average is $28.43. Kraft Heinz Company has a 1 year low of $25.44 and a 1 year high of $36.53. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07.
Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. The firm had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the company earned $0.78 EPS. The firm's quarterly revenue was down 1.9% on a year-over-year basis. On average, analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current year.
Kraft Heinz Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.8%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is presently -35.63%.
Insider Transactions at Kraft Heinz
In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the sale, the director directly owned 40,000 shares of the company's stock, valued at approximately $1,116,400. This trade represents a 38.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company's stock.
Wall Street Analyst Weigh In
KHC has been the subject of several research analyst reports. Stifel Nicolaus cut their price objective on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. The Goldman Sachs Group upgraded Kraft Heinz from a "sell" rating to a "neutral" rating and increased their price objective for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Wells Fargo & Company raised their price target on Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday, July 14th. Hsbc Global Res upgraded Kraft Heinz to a "hold" rating in a research report on Friday, August 1st. Finally, Cfra Research cut Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating and eighteen have given a hold rating to the company. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of "Hold" and an average price target of $30.22.
Read Our Latest Research Report on Kraft Heinz
Kraft Heinz Company Profile
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Free Report)
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.
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