Swiss National Bank Purchases 9,000 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Swiss National Bank grew its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,702,842 shares of the company’s stock after acquiring an additional 9,000 shares during the quarter. Swiss National Bank’s holdings in Kraft Heinz were worth $94,897,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans increased its holdings in Kraft Heinz by 23.0% in the 3rd quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company’s stock worth $1,848,000 after buying an additional 9,833 shares during the period. Mutual of America Capital Management LLC boosted its position in Kraft Heinz by 9.2% in the 3rd quarter. Mutual of America Capital Management LLC now owns 108,792 shares of the company’s stock worth $3,820,000 after purchasing an additional 9,157 shares in the last quarter. RIA Advisory Group LLC purchased a new position in shares of Kraft Heinz during the 3rd quarter valued at approximately $375,000. Natixis Advisors LLC lifted its position in shares of Kraft Heinz by 5.6% during the 3rd quarter. Natixis Advisors LLC now owns 913,893 shares of the company’s stock valued at $32,087,000 after buying an additional 48,436 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund lifted its position in shares of Kraft Heinz by 2.6% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 26,132 shares of the company’s stock valued at $917,000 after buying an additional 674 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction that occurred 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 owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KHC. Citigroup decreased their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, October 31st. The Goldman Sachs Group cut their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Piper Sandler cut their price objective on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $35.00 in a report on Thursday, October 31st. One investment 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, Kraft Heinz has an average rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Stock Performance

Shares of KHC opened at $31.07 on Tuesday. The stock has a 50-day simple moving average of $34.43 and a 200-day simple moving average of $34.38. The stock has a market capitalization of $37.57 billion, a PE ratio of 27.99, a PEG ratio of 3.56 and a beta of 0.49. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last posted 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 firm had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

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

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.