Tredje AP fonden Sells 121,938 Shares of Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Tredje AP fonden has reduced its stake in Kraft Heinz Company (NASDAQ:KHC) by 28.2%, now holding approximately $9.43 million worth of shares after selling 121,938 during the first quarter.
• Multiple analysts have issued mixed ratings on Kraft Heinz, with three analystssixteen giving it a hold rating, leading to an average price target of $30.29.
• Kraft Heinz has announced a quarterly dividend of $0.40 per share, resulting in an annualized yield of 5.62% and a payout ratio of 73.06%.

Tredje AP fonden trimmed its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 28.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 310,000 shares of the company's stock after selling 121,938 shares during the quarter. Tredje AP fonden's holdings in Kraft Heinz were worth $9,433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Klingenstein Fields & Co. LP raised its holdings in Kraft Heinz by 4.6% in the 1st quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company's stock valued at $239,000 after acquiring an additional 344 shares during the period. Laird Norton Wetherby Wealth Management LLC raised its holdings in Kraft Heinz by 4.0% in the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock valued at $307,000 after acquiring an additional 386 shares during the period. Meeder Advisory Services Inc. raised its holdings in Kraft Heinz by 2.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company's stock valued at $459,000 after acquiring an additional 393 shares during the period. Johnson Investment Counsel Inc. raised its holdings in Kraft Heinz by 1.6% in the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company's stock valued at $779,000 after acquiring an additional 397 shares during the period. Finally, Oppenheimer & Co. Inc. raised its holdings in Kraft Heinz by 0.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company's stock valued at $2,101,000 after acquiring an additional 397 shares during the period. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Stock Performance

Shares of KHC stock traded down $0.05 during trading hours on Friday, reaching $27.41. The company had a trading volume of 16,933,701 shares, compared to its average volume of 17,301,668. The business has a fifty day moving average price of $26.87 and a 200-day moving average price of $28.53. Kraft Heinz Company has a one year low of $25.44 and a one year high of $36.53. The firm has a market cap of $32.44 billion, a PE ratio of -6.10, a price-to-earnings-growth ratio of 3.21 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.81 and a current ratio of 1.07.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.05. The company had revenue of $6.35 billion during the quarter, compared to analyst estimates of $6.26 billion. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The firm's quarterly revenue was down 1.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.78 earnings per share. Sell-side analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz's payout ratio is -35.63%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on KHC shares. Sanford C. Bernstein lowered shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Wells Fargo & Company lifted their target price on shares of Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a research note on Monday, July 14th. The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and raised their price target for the stock from $25.00 to $27.00 in a report on Wednesday, June 25th. Cfra Research cut shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Finally, Mizuho set a $29.00 price target on shares of Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Three investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.35.

Insider Activity at Kraft Heinz

In related news, Director Elio Leoni Sceti sold 25,000 shares of the business's stock in a transaction 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 owned 40,000 shares in the company, valued at approximately $1,116,400. The trade was a 38.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.35% of the company's stock.

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.