Forsta AP Fonden Trims Stake in Kraft Heinz Co (KHC)
Forsta AP Fonden reduced its position in shares of Kraft Heinz Co (NASDAQ:KHC) by 56.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,428 shares of the company’s stock after selling 21,600 shares during the period. Forsta AP Fonden’s holdings in Kraft Heinz were worth $1,032,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Magellan Asset Management Ltd boosted its holdings in Kraft Heinz by 39.6% in the second quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock valued at $2,112,094,000 after acquiring an additional 9,529,235 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in Kraft Heinz by 39,913.8% in the second quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock valued at $214,038,000 after acquiring an additional 3,398,664 shares during the last quarter. FMR LLC boosted its holdings in Kraft Heinz by 34.4% in the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock valued at $518,567,000 after acquiring an additional 2,111,198 shares during the last quarter. First Trust Advisors LP boosted its holdings in Kraft Heinz by 36.7% in the second quarter. First Trust Advisors LP now owns 2,179,768 shares of the company’s stock valued at $136,933,000 after acquiring an additional 585,694 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Kraft Heinz by 291.1% in the second quarter. Gamco Investors INC. ET AL now owns 590,896 shares of the company’s stock valued at $37,120,000 after acquiring an additional 439,798 shares during the last quarter. Institutional investors own 62.83% of the company’s stock.
KHC has been the topic of a number of research analyst reports. Zacks Investment Research cut Kraft Heinz from a “hold” rating to a “sell” rating in a report on Wednesday, September 5th. Bank of America set a $85.00 price target on Kraft Heinz and gave the stock a “buy” rating in a report on Monday, August 6th. BidaskClub upgraded Kraft Heinz from a “strong sell” rating to a “sell” rating in a report on Thursday, May 31st. Morgan Stanley initiated coverage on Kraft Heinz in a report on Monday. They set an “underweight” rating and a $52.00 price target on the stock. Finally, Jefferies Financial Group restated a “buy” rating and set a $75.00 price target on shares of Kraft Heinz in a report on Tuesday, August 7th. Five research analysts have rated the stock with a sell rating, six have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $74.43.
Shares of NASDAQ:KHC opened at $57.10 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48. Kraft Heinz Co has a twelve month low of $54.11 and a twelve month high of $82.48. The company has a market cap of $71.90 billion, a PE ratio of 16.08, a PEG ratio of 2.01 and a beta of 0.50.
Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Friday, August 3rd. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.08. Kraft Heinz had a return on equity of 6.16% and a net margin of 40.85%. The company had revenue of $6.69 billion for the quarter, compared to analyst estimates of $6.57 billion. During the same period in the prior year, the firm earned $0.98 earnings per share. Kraft Heinz’s revenue for the quarter was up .7% on a year-over-year basis. equities analysts predict that Kraft Heinz Co will post 3.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 17th were given a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.38%. The ex-dividend date was Thursday, August 16th. Kraft Heinz’s payout ratio is 70.42%.
Kraft Heinz Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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