Zurcher Kantonalbank Zurich Cantonalbank Has $22.67 Million Stake in The Kraft Heinz Company (NASDAQ:KHC)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 29.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 645,750 shares of the company's stock after selling 264,097 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned 0.05% of Kraft Heinz worth $22,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Fortitude Family Office LLC lifted its stake in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock valued at $26,000 after purchasing an additional 529 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz in the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. boosted its stake in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock worth $31,000 after acquiring an additional 797 shares in the last quarter. Asset Dedication LLC raised its position in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company's stock worth $32,000 after buying an additional 476 shares during the period. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz during the third quarter worth about $32,000. Institutional investors own 78.17% of the company's stock.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.32% of the company's stock.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC traded up $0.04 during midday trading on Friday, hitting $31.97. 5,883,760 shares of the stock traded hands, compared to its average volume of 8,002,303. 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 one year low of $30.40 and a one year high of $38.96. The firm has a 50-day moving average of $33.77 and a two-hundred day moving average of $34.13. The firm has a market capitalization of $38.66 billion, a P/E ratio of 28.80, a PEG ratio of 3.65 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to analysts' expectations of $6.42 billion. During the same quarter in the prior year, the business earned $0.72 earnings per share. The company's quarterly revenue was down 2.8% compared to the same quarter last year. On average, equities analysts forecast that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Friday, November 29th. Kraft Heinz's dividend payout ratio (DPR) is currently 144.14%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on KHC. Piper Sandler reiterated a "neutral" rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. The Goldman Sachs Group cut their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a "sell" rating on the stock in a report on Thursday, October 31st. Mizuho dropped 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. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a "buy" rating to a "hold" rating and decreased their target price for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Kraft Heinz has a consensus rating of "Hold" and a consensus target price of $36.55.

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.