Zurcher Kantonalbank Zurich Cantonalbank Sells 283,656 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Zurcher Kantonalbank Zurich Cantonalbank reduced its position in The Kraft Heinz Company (NASDAQ:KHC) by 43.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 362,094 shares of the company’s stock after selling 283,656 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kraft Heinz were worth $11,120,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in KHC. New York Life Investment Management LLC increased its position in shares of Kraft Heinz by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company’s stock valued at $3,995,000 after acquiring an additional 361 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in Kraft Heinz by 5.3% in the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company’s stock valued at $223,000 after purchasing an additional 366 shares in the last quarter. Winch Advisory Services LLC increased its position in shares of Kraft Heinz by 20.1% during the 4th quarter. Winch Advisory Services LLC now owns 2,274 shares of the company’s stock worth $70,000 after purchasing an additional 380 shares during the last quarter. Pinnacle Financial Partners Inc raised its stake in shares of Kraft Heinz by 4.2% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 9,560 shares of the company’s stock worth $336,000 after purchasing an additional 381 shares in the last quarter. Finally, Cohen Investment Advisors LLC boosted its holdings in shares of Kraft Heinz by 5.0% in the 4th quarter. Cohen Investment Advisors LLC now owns 10,266 shares of the company’s stock valued at $315,000 after buying an additional 487 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Stock Down 2.6 %

KHC stock opened at $30.30 on Thursday. The business’s fifty day moving average price is $29.88 and its two-hundred day moving average price is $32.20. The stock has a market capitalization of $36.21 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 3.39 and a beta of 0.40. The Kraft Heinz Company has a fifty-two week low of $27.25 and a fifty-two week high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, equities analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.28%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is currently 70.80%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on KHC. Jefferies Financial Group dropped their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group cut their target price 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, February 13th. Evercore ISI reissued an “in-line” rating and set a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Finally, TD Cowen cut their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Two analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and an average target price of $30.86.

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.