Livforsakringsbolaget Skandia Omsesidigt Purchases 700 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Livforsakringsbolaget Skandia Omsesidigt raised its position in The Kraft Heinz Company (NASDAQ:KHC) by 221.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,016 shares of the company’s stock after buying an additional 700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Kraft Heinz were worth $36,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz during the first quarter valued at approximately $27,000. Asset Dedication LLC increased its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares during the last quarter. Bangor Savings Bank acquired a new position in shares of Kraft Heinz during the 3rd quarter worth $32,000. Hantz Financial Services Inc. bought a new stake in shares of Kraft Heinz during the 2nd quarter worth $34,000. Finally, Valley Wealth Managers Inc. boosted its stake in Kraft Heinz by 46.4% in the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after buying an additional 340 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on KHC. The Goldman Sachs Group started coverage on Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 target price for the company. Bank of America cut their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Wells Fargo & Company raised their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, 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 research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $37.55.

Kraft Heinz Price Performance

Shares of KHC opened at $35.81 on Thursday. The business has a 50-day moving average of $35.17 and a 200-day moving average of $34.98. The Kraft Heinz Company has a 1 year low of $31.08 and a 1 year high of $38.96. The company has a market capitalization of $43.48 billion, a price-to-earnings ratio of 15.64, 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.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (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 firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter last year, the business earned $0.79 EPS. The company’s revenue was down 3.3% compared to the same quarter last year. As a group, equities 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 disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

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.