Banque Pictet & Cie SA Raises Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Banque Pictet & Cie SA boosted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 10.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,000 shares of the company’s stock after purchasing an additional 8,787 shares during the period. Banque Pictet & Cie SA’s holdings in Kraft Heinz were worth $2,764,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Fortitude Family Office LLC increased its position in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Kraft Heinz in the third quarter valued at approximately $27,000. Sawyer & Company Inc acquired a new position in shares of Kraft Heinz in the fourth quarter valued at approximately $25,000. DiNuzzo Private Wealth Inc. grew 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 valued at $31,000 after purchasing an additional 797 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in shares of Kraft Heinz in the third quarter valued at approximately $33,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research reports. TD Cowen dropped their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Barclays dropped their price objective on shares of Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating for the company in a report on Friday. UBS Group dropped their price objective on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Stifel Nicolaus decreased their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group decreased their price target on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.86.

Kraft Heinz Stock Down 1.1 %

Shares of NASDAQ:KHC opened at $28.92 on Friday. The company has a market capitalization of $34.97 billion, a PE ratio of 26.05, a P/E/G ratio of 3.74 and a beta of 0.47. 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 Kraft Heinz Company has a twelve month low of $27.25 and a twelve month high of $38.96. The firm has a 50 day simple moving average of $29.94 and a 200-day simple moving average of $32.77.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating 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, equities analysts predict that The Kraft Heinz Company will post 3 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.53%. Kraft Heinz’s dividend payout ratio (DPR) is 70.80%.

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.