Skandinaviska Enskilda Banken AB publ Sells 174,159 Shares of Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Skandinaviska Enskilda Banken AB significantly reduced its stake in Kraft Heinz Company by 50.3%, holding 171,773 shares after selling 174,159 shares in the first quarter.
• Kraft Heinz reported a decrease in revenue of 6.4% year-over-year for the latest quarter, with earnings per share of $0.62, surpassing analysts' expectations.
• Institutional investors own 78.17% of Kraft Heinz stock, with various large firms adjusting their holdings in recent quarters.

Skandinaviska Enskilda Banken AB publ lessened its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 50.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 171,773 shares of the company's stock after selling 174,159 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Kraft Heinz were worth $5,224,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of KHC. Norges Bank bought a new stake in Kraft Heinz during the fourth quarter worth about $324,857,000. Pacer Advisors Inc. raised its holdings in Kraft Heinz by 4,390.7% during the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock worth $226,523,000 after acquiring an additional 7,278,295 shares in the last quarter. Southeastern Asset Management Inc. TN bought a new stake in Kraft Heinz during the fourth quarter worth about $87,080,000. Fairfax Financial Holdings Ltd. Can increased its position in Kraft Heinz by 341.9% during the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock worth $101,773,000 after buying an additional 2,564,000 shares during the last quarter. Finally, Criteria Caixa S.A.U. acquired a new position in Kraft Heinz during the fourth quarter worth approximately $73,316,000. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded down $0.27 during midday trading on Wednesday, reaching $28.29. The company had a trading volume of 11,053,651 shares, compared to its average volume of 12,417,388. The stock has a market cap of $33.48 billion, a P/E ratio of 12.93, a P/E/G ratio of 3.31 and a beta of 0.25. The company has a current ratio of 1.31, a quick ratio of 0.81 and a debt-to-equity ratio of 0.42. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53. The company's 50 day moving average price is $26.79 and its 200 day moving average price is $28.55.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its 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 return on equity of 7.37% and a net margin of 10.44%. The business had revenue of $6.35 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same period last year, the business posted $0.78 earnings per share. The business's revenue for the quarter was down 1.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.66%. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Sanford C. Bernstein downgraded Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. DZ Bank downgraded Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research report on Friday, May 9th. Wells Fargo & Company boosted their price target on Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday, July 14th. Cfra Research downgraded Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Finally, The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and upped their target price for the company from $25.00 to $27.00 in a research report on Wednesday, June 25th. Three investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. Based on data from MarketBeat, Kraft Heinz currently has a consensus rating of "Hold" and an average price target of $30.29.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were 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 in the company, valued at $1,116,400. This represents a 38.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by corporate insiders.

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.