Forsta AP Fonden Sells 16,300 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Forsta AP Fonden cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 259,700 shares of the company’s stock after selling 16,300 shares during the period. Forsta AP Fonden’s holdings in Kraft Heinz were worth $8,368,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in KHC. Capital World Investors raised its stake in Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in Kraft Heinz by 346.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after purchasing an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB lifted its stake in Kraft Heinz by 56.7% in the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after buying an additional 1,027,636 shares during the period. Poplar Forest Capital LLC bought a new position in shares of Kraft Heinz during the 2nd quarter worth approximately $26,353,000. Finally, Swedbank AB acquired a new stake in shares of Kraft Heinz during the 1st quarter worth approximately $25,298,000. Institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Up 1.1 %

KHC opened at $35.59 on Friday. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The firm has a market capitalization of $43.03 billion, a P/E ratio of 15.54, a PEG ratio of 3.43 and a beta of 0.49. The company’s 50-day moving average is $34.49 and its 200 day moving average is $35.05. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. Research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.50%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Analyst Ratings Changes

KHC has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Wells Fargo & Company boosted their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Evercore ISI cut their price target on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Bank of America reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $37.50.

Kraft Heinz Company 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.