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

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

Several other large investors also recently modified their holdings of 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 during the fourth quarter valued at about $26,000. Mountain Hill Investment Partners Corp. bought a new position in Kraft Heinz in the fourth quarter worth about $29,000. R Squared Ltd purchased a new stake in Kraft Heinz in the fourth quarter worth about $34,000. Finally, OFI Invest Asset Management purchased a new position in shares of Kraft Heinz during the 4th quarter worth approximately $36,000. 78.17% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Evercore ISI restated an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Piper Sandler decreased their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. StockNews.com raised Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. Morgan Stanley assumed coverage on Kraft Heinz in a research report on Monday, March 24th. They issued an “underweight” rating and a $29.00 price target for the company. Finally, Bank of America lowered shares of Kraft Heinz from a “buy” rating to an “underperform” rating and reduced their price objective for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $30.73.

Kraft Heinz Trading Down 0.3 %

NASDAQ:KHC opened at $30.34 on Wednesday. The company has a 50 day simple moving average of $30.03 and a two-hundred day simple moving average of $31.62. The company has a market cap of $36.26 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 3.39 and a beta of 0.40. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12 month low of $27.25 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued 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 return on equity of 7.58% and a net margin of 10.62%. Research analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

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

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.