Handelsbanken Fonder AB Sells 19,158 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Handelsbanken Fonder AB lessened its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 508,533 shares of the company’s stock after selling 19,158 shares during the period. Handelsbanken Fonder AB’s holdings in Kraft Heinz were worth $18,806,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Riverview Trust Co bought a new position in shares of Kraft Heinz in the 3rd quarter valued at about $27,000. OFI Invest Asset Management bought a new position in shares of Kraft Heinz in the 3rd quarter valued at about $26,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $32,000. BKM Wealth Management LLC bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $33,000. Finally, Headinvest LLC bought a new position in shares of Kraft Heinz in the 3rd quarter valued at about $38,000. Institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on KHC. Wells Fargo & Company cut their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating for the company in a research note on Thursday, February 15th. Bank of America raised their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Citigroup began coverage on shares of Kraft Heinz in a research note on Thursday, February 1st. They issued a “buy” rating and a $43.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, April 18th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.57.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $38.15 on Tuesday. The firm’s fifty day moving average price is $35.94 and its two-hundred day moving average price is $35.44. The stock has a market cap of $46.38 billion, a PE ratio of 16.52, a PEG ratio of 2.98 and a beta of 0.67. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $41.47. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The company’s revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, equities analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.19%. Kraft Heinz’s payout ratio is presently 69.26%.

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.