Handelsbanken Fonder AB Sells 135,972 Shares of Kraft Heinz Company $KHC

Handelsbanken Fonder AB trimmed its holdings in shares of Kraft Heinz Company (NASDAQ:KHC) by 37.0% in the second quarter, Holdings Channel.com reports. The firm owned 231,720 shares of the company’s stock after selling 135,972 shares during the quarter. Handelsbanken Fonder AB’s holdings in Kraft Heinz were worth $5,473,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KHC. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Kraft Heinz during the first quarter worth $207,000. Woodline Partners LP raised its stake in shares of Kraft Heinz by 39.0% in the 1st quarter. Woodline Partners LP now owns 73,700 shares of the company’s stock valued at $2,243,000 after purchasing an additional 20,690 shares during the period. NewEdge Advisors LLC boosted its position in shares of Kraft Heinz by 16.6% during the second quarter. NewEdge Advisors LLC now owns 51,222 shares of the company’s stock worth $1,323,000 after buying an additional 7,307 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Kraft Heinz by 0.8% during the second quarter. The Manufacturers Life Insurance Company now owns 522,147 shares of the company’s stock worth $13,482,000 after buying an additional 4,003 shares in the last quarter. Finally, HUB Investment Partners LLC bought a new stake in Kraft Heinz in the 2nd quarter valued at approximately $207,000. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Evercore set a $24.00 price objective on shares of Kraft Heinz in a report on Thursday, August 6th. Wells Fargo & Company raised their target price on shares of Kraft Heinz from $23.00 to $25.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 8th. Wall Street Zen cut shares of Kraft Heinz from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. BNP Paribas Exane increased their price objective on shares of Kraft Heinz from $17.00 to $19.00 and gave the stock an “underperform” rating in a research note on Tuesday, June 30th. Finally, Sanford C. Bernstein cut Kraft Heinz from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $25.00 to $21.00 in a report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Reduce” and an average target price of $23.62.

Insider Activity at Kraft Heinz

In other news, insider Diana Frost sold 18,502 shares of Kraft Heinz stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $23.05, for a total value of $426,471.10. Following the completion of the sale, the insider directly owned 102,667 shares in the company, valued at approximately $2,366,474.35. The trade was a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $25.51 on Friday. The company has a market capitalization of $30.25 billion, a price-to-earnings ratio of -8.92 and a beta of 0.08. The company has a current ratio of 1.06, a quick ratio of 0.68 and a debt-to-equity ratio of 0.49. Kraft Heinz Company has a 12 month low of $21.03 and a 12 month high of $28.10. The stock’s 50 day moving average is $24.86 and its 200-day moving average is $23.82.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%.The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.18 billion. During the same period in the prior year, the firm posted $0.69 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. Equities research analysts expect that Kraft Heinz Company will post 2.06 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 4th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $1.60 dividend on an annualized basis and a yield of 6.3%. Kraft Heinz’s payout ratio is currently -55.94%.

Kraft Heinz Profile

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.