Zurcher Kantonalbank Zurich Cantonalbank Has $11.12 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in The Kraft Heinz Company (NASDAQ:KHC) by 43.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 362,094 shares of the company’s stock after selling 283,656 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Kraft Heinz were worth $11,120,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. State Street Corp raised its position in Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after purchasing an additional 1,944,019 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new position in shares of Kraft Heinz during the 3rd quarter worth $411,304,000. Nordea Investment Management AB lifted its position in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after buying an additional 1,238,200 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Kraft Heinz by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,601,292 shares of the company’s stock valued at $172,016,000 after buying an additional 293,694 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

NASDAQ KHC opened at $30.30 on Thursday. The company has a market cap of $36.21 billion, a PE ratio of 13.41, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The firm’s 50-day simple moving average is $29.88 and its two-hundred day simple moving average is $32.20. The Kraft Heinz Company has a 52 week low of $27.25 and a 52 week high of $38.96.

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

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.28%. Kraft Heinz’s payout ratio is 70.80%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KHC. Citigroup cut shares of Kraft Heinz from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $34.00 to $28.00 in a report on Thursday, February 13th. Stifel Nicolaus dropped their price objective 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, February 13th. UBS Group cut their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Piper Sandler lowered their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Finally, Wells Fargo & Company cut their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price 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.