Bank Julius Baer & Co. Ltd Zurich Cuts Stock Holdings in Kraft Heinz Company (NASDAQ:KHC)

Key Points

• Bank Julius Baer & Co. Ltd Zurich significantly reduced its stake in Kraft Heinz by 89.5%, now holding only 1,060 shares worth ~$32,000 after selling 9,057 shares in the latest quarter.
• Several hedge funds have altered their positions in Kraft Heinz, with Geode Capital Management LLC increasing its stake by 3.1% and Norges Bank acquiring a new position valued at $324.9 million.
• Kraft Heinz's recent quarterly earnings showed a decrease in revenue of 6.4% year-over-year, reporting a ${0.62} EPS, exceeding analyst estimates by $0.02, but still below last year's EPS of $0.69.

Bank Julius Baer & Co. Ltd Zurich cut its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 89.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,060 shares of the company's stock after selling 9,057 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Kraft Heinz were worth $32,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in KHC. Rossby Financial LCC bought a new stake in shares of Kraft Heinz during the 1st quarter valued at $29,000. Wayfinding Financial LLC bought a new stake in shares of Kraft Heinz during the 1st quarter valued at $33,000. Pinney & Scofield Inc. bought a new stake in shares of Kraft Heinz during the 4th quarter valued at $38,000. Abound Wealth Management boosted its holdings in shares of Kraft Heinz by 1,157.0% during the 1st quarter. Abound Wealth Management now owns 1,257 shares of the company's stock valued at $38,000 after buying an additional 1,157 shares in the last quarter. Finally, Capital Analysts LLC boosted its holdings in shares of Kraft Heinz by 50.5% during the 4th quarter. Capital Analysts LLC now owns 1,507 shares of the company's stock valued at $47,000 after buying an additional 506 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other institutional investors.

Kraft Heinz Price Performance

NASDAQ:KHC traded up $0.30 during trading hours on Tuesday, reaching $28.55. The stock had a trading volume of 5,273,177 shares, compared to its average volume of 12,367,152. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31. Kraft Heinz Company has a 52 week low of $25.44 and a 52 week high of $36.53. The company has a 50 day moving average price of $26.77 and a two-hundred day moving average price of $28.55. The stock has a market capitalization of $33.79 billion, a PE ratio of 13.03, a PEG ratio of 3.36 and a beta of 0.25.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business had revenue of $6 billion for the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the business posted $0.69 earnings per share. The company's quarterly revenue was down 6.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on KHC. Stifel Nicolaus cut their target price on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Wells Fargo & Company lifted their target price on shares of Kraft Heinz from $27.00 to $29.00 and gave the stock an "equal weight" rating in a report on Monday, July 14th. Sanford C. Bernstein cut shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and decreased their target price for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. UBS Group decreased their target price on shares of Kraft Heinz from $31.00 to $29.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Finally, Mizuho set a $29.00 target price on shares of Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of "Hold" and an average target price of $30.29.

Insider Activity

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the transaction, the director owned 40,000 shares in the company, valued at $1,116,400. The trade was a 38.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by company insiders.

Kraft Heinz 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.