Handelsbanken Fonder AB Lowers Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Handelsbanken Fonder AB trimmed its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 0.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 419,100 shares of the company’s stock after selling 1,874 shares during the quarter. Handelsbanken Fonder AB’s holdings in Kraft Heinz were worth $12,753,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Generali Investments Management Co LLC purchased a new position in Kraft Heinz during the fourth quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Kraft Heinz during the 4th quarter worth approximately $29,000. OFI Invest Asset Management acquired a new position in shares of Kraft Heinz during the 4th quarter worth approximately $36,000. Pinney & Scofield Inc. purchased a new position in shares of Kraft Heinz during the 4th quarter valued at approximately $38,000. Finally, Kennondale Capital Management LLC acquired a new stake in Kraft Heinz in the 4th quarter valued at $45,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Down 0.6%

Shares of NASDAQ:KHC opened at $26.42 on Thursday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The business has a fifty day moving average of $28.04 and a two-hundred day moving average of $29.50. The stock has a market cap of $31.27 billion, a P/E ratio of 11.69, a PEG ratio of 3.39 and a beta of 0.27. The Kraft Heinz Company has a 52-week low of $26.01 and a 52-week high of $36.53.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $6 billion during the quarter, compared to analysts’ expectations of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. On average, research analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.06%. The ex-dividend date is Friday, May 30th. Kraft Heinz’s payout ratio is currently 73.06%.

Analyst Ratings Changes

Several research firms have issued reports on KHC. Stifel Nicolaus decreased their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a “sell” rating on the stock in a research note on Monday. DZ Bank lowered Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective for the company. in a research note on Friday, May 9th. Barclays decreased their target price on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. dropped their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Four analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.35.

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.