Banque Pictet & Cie SA Sells 11,000 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Banque Pictet & Cie SA lowered its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 13.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 71,400 shares of the company’s stock after selling 11,000 shares during the period. Banque Pictet & Cie SA’s holdings in Kraft Heinz were worth $2,301,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in KHC. Vanguard Group Inc. increased its stake in Kraft Heinz by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after purchasing an additional 183,234 shares during the period. Capital World Investors raised its holdings in Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after buying an additional 3,961,872 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Kraft Heinz by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock valued at $169,268,000 after buying an additional 137,169 shares during the period. Dimensional Fund Advisors LP grew its holdings in Kraft Heinz by 18.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after acquiring an additional 474,758 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Kraft Heinz by 56.7% in the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after acquiring an additional 1,027,636 shares during the period. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC opened at $35.91 on Friday. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The firm’s 50-day simple moving average is $33.54 and its two-hundred day simple moving average is $35.06. The stock has a market cap of $43.61 billion, a PE ratio of 15.68, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.79 EPS. Analysts anticipate that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Barclays lifted their price objective on Kraft Heinz from $34.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft decreased their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Piper Sandler cut their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a report on Thursday, June 20th. Finally, Evercore ISI decreased their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and an average price target of $37.31.

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.