Swedbank AB Buys 262,945 Shares of Kraft Heinz Company $KHC

Swedbank AB grew its stake in Kraft Heinz Company (NASDAQ:KHC) by 27.1% in the 3rd quarter, Holdings Channel reports. The firm owned 1,233,854 shares of the company’s stock after purchasing an additional 262,945 shares during the period. Swedbank AB’s holdings in Kraft Heinz were worth $32,130,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Rakuten Securities Inc. raised its stake in Kraft Heinz by 172.4% in the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after buying an additional 788 shares in the last quarter. Cape Investment Advisory Inc. grew its holdings in shares of Kraft Heinz by 164.7% during the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after acquiring an additional 807 shares during the period. Mid American Wealth Advisory Group Inc. bought a new position in shares of Kraft Heinz in the 2nd quarter worth approximately $39,000. Banque Transatlantique SA purchased a new position in shares of Kraft Heinz in the 1st quarter valued at approximately $40,000. Finally, Hilltop National Bank purchased a new position in shares of Kraft Heinz in the 2nd quarter valued at approximately $41,000. Institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In other news, insider Miguel Patricio sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the sale, the insider owned 686,817 shares of the company’s stock, valued at $17,046,797.94. This trade represents a 15.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.35% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $23.97 on Friday. The firm has a market cap of $28.37 billion, a P/E ratio of -6.43 and a beta of 0.09. Kraft Heinz Company has a twelve month low of $23.60 and a twelve month high of $33.35. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average of $24.78 and a 200 day moving average of $26.07.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The business had revenue of $6.39 billion for the quarter. As a group, research analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a yield of 6.7%. Kraft Heinz’s payout ratio is -42.90%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on KHC shares. Deutsche Bank Aktiengesellschaft reduced their price target on Kraft Heinz from $27.00 to $26.00 in a research note on Thursday, October 30th. Sanford C. Bernstein reduced their target price on shares of Kraft Heinz from $30.00 to $27.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 28th. TD Cowen lowered their price target on shares of Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. UBS Group dropped their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Finally, Barclays decreased their target price on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, Kraft Heinz presently has an average rating of “Reduce” and a consensus price target of $26.63.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.