Nordea Investment Management AB Boosts Position in Kraft Heinz Company $KHC

Key Points

• Nordea Investment Management AB increased its stake in Kraft Heinz Company by 11.1% during the second quarter, holding a total of 7,820,516 shares worth approximately $201.3 million as of its latest SEC filing.
• Kraft Heinz's stock has received mixed ratings from analysts, with one upgrade to "strong-buy" but also multiple target price cuts, leading to a consensus rating of "reduce" and an average price target of $28.65.
• The company recently declared a quarterly dividend of $0.40 per share, resulting in a dividend yield of 6.3% and a negative dividend payout ratio of -35.63%.

Nordea Investment Management AB grew its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 11.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,820,516 shares of the company's stock after buying an additional 778,744 shares during the period. Nordea Investment Management AB owned 0.66% of Kraft Heinz worth $201,300,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new stake in shares of Kraft Heinz in the 1st quarter worth about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Kraft Heinz in the 1st quarter worth about $33,000. Investment Management Corp VA ADV grew its position in shares of Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after buying an additional 669 shares during the period. Banque Transatlantique SA purchased a new stake in shares of Kraft Heinz in the 1st quarter worth about $40,000. Finally, Hilltop National Bank purchased a new stake in shares of Kraft Heinz in the 2nd quarter worth about $41,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KHC has been the topic of a number of recent research reports. DZ Bank raised Kraft Heinz from a "hold" rating to a "strong-buy" rating in a research note on Friday, September 19th. Weiss Ratings reissued a "sell (d)" rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft cut their target price on Kraft Heinz from $28.00 to $27.00 and set a "hold" rating on the stock in a research note on Monday, October 13th. Jefferies Financial Group cut their target price on Kraft Heinz from $28.00 to $24.00 and set a "hold" rating on the stock in a research note on Wednesday. Finally, UBS Group cut their target price on Kraft Heinz from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and an average price target of $28.65.

Kraft Heinz Stock Up 1.6%

KHC stock opened at $25.52 on Friday. Kraft Heinz Company has a fifty-two week low of $24.80 and a fifty-two week high of $36.31. The business's 50-day moving average is $26.54 and its two-hundred day moving average is $27.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. The company has a market cap of $30.21 billion, a price-to-earnings ratio of -5.68, a P/E/G ratio of 2.94 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The firm had revenue of $6.39 billion for the quarter. As a group, analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 29th. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. Kraft Heinz's dividend payout ratio (DPR) is currently -35.63%.

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.

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