Banque Cantonale Vaudoise Increases Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Banque Cantonale Vaudoise raised its stake in The Kraft Heinz Company (NASDAQ:KHC) by 39.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,605 shares of the company’s stock after buying an additional 10,869 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Kraft Heinz were worth $1,372,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Kraft Heinz by 98,074.5% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 52,181,724 shares of the company’s stock worth $1,852,451,000 after buying an additional 52,128,572 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Kraft Heinz by 1,835.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,527,499 shares of the company’s stock valued at $794,964,000 after purchasing an additional 18,518,584 shares in the last quarter. BlackRock Inc. lifted its position in shares of Kraft Heinz by 10.4% during the 1st quarter. BlackRock Inc. now owns 76,422,467 shares of the company’s stock worth $2,955,257,000 after purchasing an additional 7,196,843 shares during the last quarter. Capital World Investors grew its stake in shares of Kraft Heinz by 96.5% during the first quarter. Capital World Investors now owns 13,312,000 shares of the company’s stock worth $524,360,000 after purchasing an additional 6,537,000 shares in the last quarter. Finally, Norges Bank acquired a new stake in Kraft Heinz in the fourth quarter valued at $252,224,000. 75.39% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $33.58 on Wednesday. The business’s 50-day moving average price is $32.79 and its 200 day moving average price is $35.16. The company has a quick ratio of 0.52, a current ratio of 1.00 and a debt-to-equity ratio of 0.39. The firm has a market cap of $41.19 billion, a P/E ratio of 13.88, a P/E/G ratio of 2.42 and a beta of 0.69. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $42.80.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, November 1st. The company reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.06. Kraft Heinz had a return on equity of 7.63% and a net margin of 11.00%. The business had revenue of $6.57 billion for the quarter, compared to analyst estimates of $6.70 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. On average, equities research analysts expect that The Kraft Heinz Company will post 2.96 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 1st will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Thursday, November 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 66.12%.

Analysts Set New Price Targets

Several research firms have recently issued reports on KHC. Mizuho lowered their price objective on Kraft Heinz from $50.00 to $47.00 in a research report on Monday, July 31st. StockNews.com started coverage on shares of Kraft Heinz in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Piper Sandler boosted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock a “neutral” rating in a research report on Thursday, November 2nd. Sanford C. Bernstein raised shares of Kraft Heinz from a “market perform” rating to an “outperform” rating and set a $40.00 target price on the stock in a research report on Tuesday. Finally, Morgan Stanley reduced their price target on shares of Kraft Heinz from $39.00 to $36.00 and set an “equal weight” rating for the company in a research report on Thursday, November 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz has an average rating of “Hold” and an average target price of $40.31.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.