Pictet Asset Management Holding SA Sells 13,869 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Pictet Asset Management Holding SA lowered its stake in The Kraft Heinz Company (NASDAQ:KHC) by 3.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 398,879 shares of the company’s stock after selling 13,869 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Kraft Heinz were worth $12,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in KHC. Sawyer & Company Inc bought a new position in Kraft Heinz in the 4th quarter worth $25,000. Generali Investments Management Co LLC purchased a new position in shares of Kraft Heinz in the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new position in shares of Kraft Heinz in the fourth quarter worth about $29,000. R Squared Ltd purchased a new stake in shares of Kraft Heinz during the fourth quarter worth about $34,000. Finally, OFI Invest Asset Management bought a new stake in Kraft Heinz during the 4th quarter valued at approximately $36,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Stock Down 0.3 %

Shares of KHC opened at $30.34 on Wednesday. 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 Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $38.96. The company has a market cap of $36.26 billion, a PE ratio of 13.42, a P/E/G ratio of 3.39 and a beta of 0.40. The business has a fifty day moving average of $30.03 and a 200 day moving average of $31.62.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, sell-side analysts expect that The Kraft Heinz Company will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.27%. Kraft Heinz’s payout ratio is 70.80%.

Analyst Ratings Changes

Several research firms have weighed in on KHC. Morgan Stanley started coverage on Kraft Heinz in a research note on Monday, March 24th. They issued an “underweight” rating and a $29.00 price target for the company. Stifel Nicolaus cut their target price 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. Jefferies Financial Group reduced their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a report on Wednesday, January 29th. Wells Fargo & Company cut their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday, February 13th. Finally, Barclays reduced their target price on Kraft Heinz from $33.00 to $29.00 and set an “equal weight” rating on the stock in a report on Friday, February 14th. Three research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $30.73.

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.