Forsta AP Fonden Has $8.37 Million Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Forsta AP Fonden cut its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Other institutional investors also recently made changes to their positions in the company. Y.D. More Investments Ltd acquired a new stake in Kraft Heinz during the 2nd quarter worth approximately $87,000. American Century Companies Inc. lifted its holdings in shares of Kraft Heinz by 408.9% during the second quarter. American Century Companies Inc. now owns 586,370 shares of the company’s stock worth $18,893,000 after buying an additional 471,146 shares in the last quarter. AGF Management Ltd. boosted its position in shares of Kraft Heinz by 30.9% in the second quarter. AGF Management Ltd. now owns 82,808 shares of the company’s stock valued at $2,668,000 after acquiring an additional 19,524 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Kraft Heinz by 11.3% in the second quarter. Daiwa Securities Group Inc. now owns 163,903 shares of the company’s stock valued at $5,281,000 after acquiring an additional 16,658 shares in the last quarter. Finally, Beam Wealth Advisors Inc. bought a new position in Kraft Heinz during the second quarter worth about $401,000. Institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on KHC shares. JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Bank of America dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Evercore ISI reduced their target price 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, Deutsche Bank Aktiengesellschaft dropped their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $37.50.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Up 1.1 %

Shares of NASDAQ KHC opened at $35.59 on Friday. The stock has a 50-day moving average price of $34.49 and a two-hundred day moving average price of $35.05. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The company has a market cap of $43.03 billion, a price-to-earnings ratio of 15.54, a PEG ratio of 3.43 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $6.50 billion during 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 firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. As a group, analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

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

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.