Mirabaud & Cie SA Cuts Stock Position in The Kraft Heinz Company (NASDAQ:KHC)

Mirabaud & Cie SA trimmed its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 70.0% in the fourth quarter, Holdings Channel reports. The firm owned 12,000 shares of the company’s stock after selling 28,000 shares during the period. Mirabaud & Cie SA’s holdings in Kraft Heinz were worth $369,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in KHC. JBGlobal.com LLC purchased a new stake in shares of Kraft Heinz during the fourth quarter valued at approximately $502,000. LifePlan Financial LLC increased its stake in Kraft Heinz by 1.6% during the 4th quarter. LifePlan Financial LLC now owns 39,449 shares of the company’s stock worth $1,211,000 after buying an additional 635 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Kraft Heinz by 24.5% in the 4th quarter. Koshinski Asset Management Inc. now owns 10,174 shares of the company’s stock worth $312,000 after buying an additional 2,004 shares in the last quarter. HBC Financial Services PLLC boosted its position in Kraft Heinz by 88.4% in the 4th quarter. HBC Financial Services PLLC now owns 4,263 shares of the company’s stock valued at $130,000 after buying an additional 2,000 shares during the last quarter. Finally, FLC Capital Advisors grew its stake in shares of Kraft Heinz by 121.0% during the fourth quarter. FLC Capital Advisors now owns 18,653 shares of the company’s stock valued at $573,000 after acquiring an additional 10,214 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.37% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the company. Barclays cut their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. TD Cowen decreased their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Wells Fargo & Company decreased their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, 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 note on Thursday, January 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $35.23.

Kraft Heinz Trading Up 0.7 %

Shares of NASDAQ KHC opened at $29.48 on Wednesday. The company has a market cap of $35.65 billion, a price-to-earnings ratio of 26.56, a price-to-earnings-growth ratio of 3.47 and a beta of 0.48. The stock’s 50 day simple moving average is $30.73 and its 200 day simple moving average is $33.20. 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 12-month low of $28.37 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the firm posted $0.72 EPS. Kraft Heinz’s quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts expect that The Kraft Heinz Company will post 3 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued 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 (DPR) is 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.