AMF Tjanstepension AB Takes $3.25 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

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

A number of other hedge funds also recently modified their holdings of KHC. Vanguard Group Inc. raised its holdings in shares of Kraft Heinz by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after acquiring an additional 183,234 shares in the last quarter. Capital World Investors raised its holdings in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after acquiring an additional 3,961,872 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kraft Heinz by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock worth $169,268,000 after acquiring an additional 137,169 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kraft Heinz by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after acquiring an additional 474,758 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after acquiring an additional 1,027,636 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the firm’s 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 owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded down $0.15 during midday trading on Wednesday, hitting $34.67. The company’s stock had a trading volume of 7,907,792 shares, compared to its average volume of 8,094,000. The stock has a market capitalization of $42.10 billion, a price-to-earnings ratio of 15.14, a PEG ratio of 3.52 and a beta of 0.53. The stock’s 50 day simple moving average is $33.33 and its 200 day simple moving average is $35.25. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the business earned $0.79 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. As a group, research analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Wall Street Analysts Forecast Growth

KHC has been the subject of several recent research reports. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Citigroup lowered 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 17th. Wells Fargo & Company increased their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. lowered their target price 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. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $37.58.

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.