The Kraft Heinz Company (NASDAQ:KHC) Shares Sold by Mirabaud & Cie SA

Mirabaud & Cie SA trimmed its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 70.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,000 shares of the company’s stock after selling 28,000 shares during the quarter. Mirabaud & Cie SA’s holdings in Kraft Heinz were worth $369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Sawyer & Company Inc purchased a new stake in Kraft Heinz in the 4th quarter valued at approximately $25,000. Fortitude Family Office LLC boosted 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 valued at $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz in the third quarter worth $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in 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 acquiring an additional 797 shares during the period. Finally, Bangor Savings Bank purchased a new stake in shares of Kraft Heinz during the 3rd quarter worth $32,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KHC has been the subject of several recent analyst reports. Mizuho reduced their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Barclays dropped their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Piper Sandler reiterated a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Wells Fargo & Company lowered their target price on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $35.00 in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $35.23.

Kraft Heinz Stock Performance

Shares of KHC opened at $29.48 on Wednesday. The company has a market capitalization of $35.65 billion, a price-to-earnings ratio of 26.56, a PEG ratio of 3.47 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The Kraft Heinz Company has a 1 year low of $28.37 and a 1 year high of $38.96. The company’s 50 day simple moving average is $30.73 and its 200 day simple moving average is $33.20.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $0.72 EPS. On average, sell-side analysts predict that The Kraft Heinz Company will post 3 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.43%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.37% of the company’s stock.

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.