AMF Tjanstepension AB Acquires New Holdings in The Kraft Heinz Company (NASDAQ:KHC)

AMF Tjanstepension AB acquired a new stake in The Kraft Heinz Company (NASDAQ:KHC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 100,876 shares of the company’s stock, valued at approximately $3,250,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz in the 4th quarter valued at approximately $25,000. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz during the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Kraft Heinz during the fourth quarter valued at $32,000. Transcendent Capital Group LLC bought a new position in shares of Kraft Heinz during the fourth quarter valued at $38,000. Finally, AlphaMark Advisors LLC raised its stake in shares of Kraft Heinz by 128.9% during the first quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock valued at $44,000 after acquiring an additional 665 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their price objective 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. Barclays increased their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Kraft Heinz currently has an average rating of “Hold” and an average price target of $37.58.

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 shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Stock Down 0.4 %

NASDAQ:KHC traded down $0.15 during trading hours on Wednesday, reaching $34.67. The company had a trading volume of 7,907,792 shares, compared to its average volume of 8,094,000. The company has a quick ratio of 0.61, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm has a market cap of $42.10 billion, a price-to-earnings ratio of 15.14, a P/E/G ratio of 3.52 and a beta of 0.53. The business’s 50-day simple moving average is $33.33 and its two-hundred day simple moving average is $35.25. The Kraft Heinz Company has a twelve month low of $30.68 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 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 business’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the company posted $0.79 earnings per share. On average, equities analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

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.