Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its stake in shares of Kraft Heinz Company (NASDAQ:KHC – Free Report) by 71.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,761 shares of the company’s stock after selling 291,400 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Kraft Heinz were worth $2,783,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of KHC. Norges Bank acquired a new position in Kraft Heinz during the 4th quarter valued at approximately $332,382,000. Life Cycle Investment Partners Ltd acquired a new position in Kraft Heinz during the 4th quarter valued at approximately $34,451,000. SG Americas Securities LLC increased its stake in Kraft Heinz by 2,264.5% during the 4th quarter. SG Americas Securities LLC now owns 1,458,451 shares of the company’s stock valued at $35,367,000 after purchasing an additional 1,396,770 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Kraft Heinz by 112.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,491,597 shares of the company’s stock valued at $64,872,000 after purchasing an additional 1,317,201 shares in the last quarter. Finally, Swiss Life Asset Management Ltd increased its stake in Kraft Heinz by 148.4% during the 4th quarter. Swiss Life Asset Management Ltd now owns 2,168,874 shares of the company’s stock valued at $52,595,000 after purchasing an additional 1,295,688 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.
Kraft Heinz Stock Up 0.3%
Shares of NASDAQ KHC opened at $23.43 on Wednesday. The company’s 50-day simple moving average is $22.97 and its 200-day simple moving average is $23.60. Kraft Heinz Company has a 52-week low of $21.03 and a 52-week high of $29.19. The firm has a market cap of $27.78 billion, a price-to-earnings ratio of -4.82 and a beta of 0.08. The company has a quick ratio of 0.82, a current ratio of 1.20 and a debt-to-equity ratio of 0.46.
Kraft Heinz Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 5th will be given a $0.40 dividend. The ex-dividend date is Friday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 6.8%. Kraft Heinz’s dividend payout ratio (DPR) is -32.92%.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on KHC shares. UBS Group upped their price target on shares of Kraft Heinz from $23.00 to $24.00 and gave the company a “neutral” rating in a research note on Friday, May 8th. BNP Paribas Exane cut their price target on shares of Kraft Heinz from $18.00 to $17.00 in a research note on Thursday, May 7th. Barclays upped their price target on shares of Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Kraft Heinz from $20.00 to $22.00 and gave the stock a “hold” rating in a research note on Thursday, May 7th. Finally, BTIG Research assumed coverage on shares of Kraft Heinz in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Hold rating and five have given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $22.69.
Read Our Latest Stock Report on KHC
About Kraft Heinz
The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.
Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.
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