Swiss National Bank Increases Stake in The Kraft Heinz Company (NASDAQ:KHC)

Swiss National Bank boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 2,702,842 shares of the company’s stock after purchasing an additional 9,000 shares during the quarter. Swiss National Bank owned about 0.22% of Kraft Heinz worth $94,897,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KHC. Fortitude Family Office LLC grew its position in Kraft Heinz by 249.5% during 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 during the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of Kraft Heinz during the 1st quarter valued at about $27,000. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz in the third quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the last quarter. Finally, Asset Dedication LLC boosted its holdings in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on KHC. Piper Sandler dropped their target price on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Evercore ISI cut their target price 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. Wells Fargo & Company raised their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Stock Down 0.2 %

NASDAQ:KHC opened at $31.07 on Tuesday. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96. The company has a market cap of $37.57 billion, a price-to-earnings ratio of 27.99, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49. The stock has a fifty day simple moving average of $34.43 and a 200-day simple moving average of $34.38. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last released 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 during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the company earned $0.72 earnings per share. Analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.15%. Kraft Heinz’s payout ratio is currently 144.14%.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

About Kraft Heinz

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.