Skandinaviska Enskilda Banken AB publ Has $5.71 Million Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.4% in the second quarter, Holdings Channel.com reports. The institutional investor owned 177,198 shares of the company’s stock after acquiring an additional 5,800 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Kraft Heinz were worth $5,709,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Steward Partners Investment Solutions LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $25,000. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz in the 1st quarter valued at $27,000. Asset Dedication LLC boosted its holdings in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Transcendent Capital Group LLC bought a new stake in Kraft Heinz during the 4th quarter worth $38,000. Finally, Hantz Financial Services Inc. acquired a new position in Kraft Heinz in the 2nd quarter worth about $34,000. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

KHC stock opened at $34.96 on Monday. The firm has a market cap of $42.45 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. 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 stock has a 50-day moving average price of $34.80 and a 200-day moving average price of $35.04. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share 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 the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share. As a group, equities research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of brokerages have recently commented on KHC. Piper Sandler cut their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Barclays upped their price target on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. cut their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Finally, Citigroup decreased 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 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz presently has a consensus rating of “Hold” and a consensus target price of $37.45.

Kraft Heinz 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.