AMF Tjanstepension AB Buys 144,646 Shares of The Kraft Heinz Company (NASDAQ:KHC)

AMF Tjanstepension AB raised its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 143.4% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 245,522 shares of the company’s stock after purchasing an additional 144,646 shares during the period. AMF Tjanstepension AB’s holdings in Kraft Heinz were worth $8,620,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Shell Asset Management Co. increased its stake in shares of Kraft Heinz by 251.3% in the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after purchasing an additional 24,199 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in Kraft Heinz by 120.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after buying an additional 75,149 shares in the last quarter. Bridgewater Associates LP raised its holdings in Kraft Heinz by 7.7% during the fourth quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after acquiring an additional 118,260 shares during the period. Lazard Asset Management LLC lifted its position in shares of Kraft Heinz by 13.2% in the first quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after acquiring an additional 234,783 shares in the last quarter. Finally, Smith Thornton Advisors LLC bought a new position in shares of Kraft Heinz in the second quarter worth about $654,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KHC. Bank of America decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. JPMorgan Chase & Co. reduced their price objective 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 dropped their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Finally, The Goldman Sachs Group began coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price target on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.45.

Insiders Place Their Bets

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.32% of the stock is owned by insiders.

Kraft Heinz Trading Down 2.3 %

Shares of KHC stock opened at $34.37 on Thursday. The company has a market cap of $41.74 billion, a PE ratio of 15.01, a price-to-earnings-growth ratio of 3.39 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The stock’s 50 day simple moving average is $35.08 and its two-hundred day simple moving average is $35.05. 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 posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year. Research analysts predict that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, August 30th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.87%.

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.