Handelsbanken Fonder AB Sells 19,158 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Handelsbanken Fonder AB cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 3.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 508,533 shares of the company’s stock after selling 19,158 shares during the period. Handelsbanken Fonder AB’s holdings in Kraft Heinz were worth $18,806,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of KHC. OFI Invest Asset Management bought a new position in Kraft Heinz in the 3rd quarter valued at $26,000. Riverview Trust Co bought a new position in Kraft Heinz in the 3rd quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new position in Kraft Heinz in the 4th quarter valued at $32,000. BKM Wealth Management LLC bought a new position in Kraft Heinz in the 4th quarter valued at $33,000. Finally, Headinvest LLC bought a new position in Kraft Heinz in the 3rd quarter valued at $38,000. 78.17% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on KHC. Bank of America raised their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, April 18th. Wells Fargo & Company lowered their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Finally, Citigroup initiated coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 price objective on the stock. Seven research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $40.57.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $38.15 on Tuesday. The stock has a market cap of $46.38 billion, a PE ratio of 16.52, a PEG ratio of 2.98 and a beta of 0.67. The company’s fifty day moving average is $35.94 and its 200 day moving average is $35.44. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $41.47. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 EPS. Research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s payout ratio is presently 69.26%.

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.