The Kraft Heinz Company (NASDAQ:KHC) Shares Purchased by Banque Pictet & Cie SA

Banque Pictet & Cie SA lifted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 10.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 90,000 shares of the company’s stock after acquiring an additional 8,787 shares during the quarter. Banque Pictet & Cie SA’s holdings in Kraft Heinz were worth $2,764,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in KHC. Sawyer & Company Inc acquired a new stake in shares of Kraft Heinz in the fourth quarter worth $25,000. Fortitude Family Office LLC increased its stake in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Kraft Heinz in the third quarter worth $27,000. DiNuzzo Private Wealth Inc. grew its position in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in Kraft Heinz during the third quarter valued at $33,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $28.92 on Friday. The company’s 50-day moving average price is $29.94 and its 200-day moving average price is $32.77. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $34.97 billion, a P/E ratio of 26.05, a P/E/G ratio of 3.74 and a beta of 0.47. The Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. On average, sell-side analysts forecast that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.80%.

Analyst Upgrades and Downgrades

Several analysts recently commented on KHC shares. Barclays dropped their price target on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a research report on Friday. Bank of America lowered shares of Kraft Heinz from a “buy” rating to an “underperform” rating and dropped their price target for the company from $36.00 to $30.00 in a research report on Thursday. Piper Sandler dropped their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday. TD Cowen dropped their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the company from $39.00 to $35.00 in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to MarketBeat, Kraft Heinz presently has an average rating of “Hold” and a consensus price target of $30.86.

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.