Swedbank AB Decreases Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Swedbank AB cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 0.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 773,812 shares of the company’s stock after selling 1,877 shares during the quarter. Swedbank AB’s holdings in Kraft Heinz were worth $23,764,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC increased its stake in Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Kraft Heinz during the 3rd quarter worth $27,000. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz in the 4th quarter worth about $25,000. DiNuzzo Private Wealth Inc. grew its stake in Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after acquiring an additional 797 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in Kraft Heinz during the 3rd quarter valued at about $32,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $30.27 on Friday. The company has a market cap of $36.60 billion, a P/E ratio of 27.27, a P/E/G ratio of 3.45 and a beta of 0.48. The firm’s 50 day moving average is $30.47 and its two-hundred day moving average is $33.07. The Kraft Heinz Company has a fifty-two week low of $28.37 and a fifty-two week high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period last year, the company posted $0.72 EPS. Analysts expect that The Kraft Heinz Company will post 3 EPS for the current year.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

KHC has been the topic of several research reports. Mizuho lowered their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Piper Sandler reissued a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup reduced their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $34.43.

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.