Forsta AP Fonden grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 43.0% during the 3rd quarter, Holdings Channel reports. The firm owned 231,100 shares of the company’s stock after buying an additional 69,500 shares during the period. Forsta AP Fonden’s holdings in Kraft Heinz were worth $8,509,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of KHC. Strategic Asset Management LLC acquired a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $36,000. Princeton Global Asset Management LLC increased its holdings in shares of Kraft Heinz by 6,250.0% during the 3rd quarter. Princeton Global Asset Management LLC now owns 1,270 shares of the company’s stock worth $47,000 after acquiring an additional 1,250 shares during the last quarter. Evolution Wealth Advisors LLC increased its holdings in shares of Kraft Heinz by 1,392.9% during the 3rd quarter. Evolution Wealth Advisors LLC now owns 1,463 shares of the company’s stock worth $54,000 after acquiring an additional 1,365 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in shares of Kraft Heinz during the 2nd quarter worth approximately $84,000. Finally, Eubel Brady & Suttman Asset Management Inc. acquired a new position in shares of Kraft Heinz during the 2nd quarter worth approximately $86,000. 60.98% of the stock is currently owned by hedge funds and other institutional investors.
In related news, major shareholder Global Food Holdings Lp 3G sold 30,596,465 shares of the company’s stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $35.75, for a total transaction of $1,093,823,623.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Lande Rashida La sold 20,000 shares of the company’s stock in a transaction on Tuesday, November 30th. The stock was sold at an average price of $33.77, for a total value of $675,400.00. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 27th. The company reported $0.65 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $6.08 billion. Kraft Heinz had a return on equity of 7.21% and a net margin of 8.76%. The company’s revenue was down 1.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.70 EPS. Research analysts predict that The Kraft Heinz Company will post 2.79 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Investors of record on Friday, November 26th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 24th. This represents a $1.60 annualized dividend and a dividend yield of 4.21%. Kraft Heinz’s dividend payout ratio is currently 85.56%.
A number of research analysts recently weighed in on KHC shares. Guggenheim lowered Kraft Heinz from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $46.00 to $33.00 in a report on Wednesday, December 8th. Morgan Stanley upped their price objective on Kraft Heinz from $37.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, TheStreet raised Kraft Heinz from a “c” rating to a “b-” rating in a report on Monday, November 29th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $39.33.
About Kraft Heinz
The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.
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