Swedbank AB Has $27.23 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Swedbank AB lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 6.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 775,689 shares of the company's stock after purchasing an additional 50,063 shares during the period. Swedbank AB owned about 0.06% of Kraft Heinz worth $27,234,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Fortitude Family Office LLC boosted its stake in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock valued at $26,000 after acquiring an additional 529 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the first quarter worth about $27,000. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after buying an additional 797 shares in the last quarter. Finally, Asset Dedication LLC grew its position in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company's stock worth $32,000 after acquiring an additional 476 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on KHC. The Goldman Sachs Group reduced their price objective on Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a "buy" rating to a "hold" rating and lowered their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Evercore ISI decreased their target price on Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, July 31st. Citigroup dropped their price target on Kraft Heinz from $39.00 to $38.00 and set a "buy" rating on the stock in a research report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price objective on Kraft Heinz from $34.00 to $35.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $36.55.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded down $0.05 during midday trading on Tuesday, reaching $31.97. 8,431,604 shares of the company traded hands, compared to its average volume of 8,014,961. The stock has a 50-day moving average price of $34.01 and a 200 day moving average price of $34.22. The company has a market cap of $38.66 billion, a price-to-earnings ratio of 28.85, a PEG ratio of 3.63 and a beta of 0.49. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the business posted $0.72 EPS. The business's revenue for the quarter was down 2.8% compared to the same quarter last year. Sell-side analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.00%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz's dividend payout ratio (DPR) is presently 144.14%.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.37% of the company's stock.

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.