Zurcher Kantonalbank Zurich Cantonalbank Acquires 16,280 Shares of Kraft Heinz Company (NASDAQ:KHC)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 4.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 378,374 shares of the company's stock after purchasing an additional 16,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Kraft Heinz were worth $11,514,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Headlands Technologies LLC bought a new stake in shares of Kraft Heinz during the fourth quarter valued at approximately $2,048,000. Versant Capital Management Inc boosted its holdings in Kraft Heinz by 493.4% in the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock worth $376,000 after purchasing an additional 10,272 shares during the last quarter. D.A. Davidson & CO. boosted its holdings in Kraft Heinz by 7.8% in the first quarter. D.A. Davidson & CO. now owns 90,252 shares of the company's stock worth $2,746,000 after purchasing an additional 6,551 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Kraft Heinz by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 8,171,720 shares of the company's stock worth $248,665,000 after purchasing an additional 103,548 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Kraft Heinz by 28.1% in the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock worth $481,000 after purchasing an additional 3,468 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Price Performance

Shares of KHC traded down $0.05 during trading hours on Friday, reaching $27.41. 16,933,075 shares of the stock traded hands, compared to its average volume of 12,534,841. The company has a current ratio of 1.07, a quick ratio of 0.81 and a debt-to-equity ratio of 0.47. Kraft Heinz Company has a 52-week low of $25.44 and a 52-week high of $36.53. The company's 50-day moving average price is $26.84 and its two-hundred day moving average price is $28.54. The company has a market cap of $32.44 billion, a P/E ratio of -6.10, a price-to-earnings-growth ratio of 3.34 and a beta of 0.25.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company had revenue of $6.35 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the previous year, the company earned $0.78 EPS. Kraft Heinz's revenue for the quarter was down 1.9% on a year-over-year basis. On average, analysts anticipate that Kraft Heinz Company will post 2.68 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, September 26th. Investors of record on Friday, August 29th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.8%. Kraft Heinz's payout ratio is -35.63%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on KHC shares. Cfra Research cut shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. 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. Citigroup restated a "sell" rating and issued a $27.00 target price (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Sanford C. Bernstein cut shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their target price for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. Finally, DZ Bank cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price target on the stock. in a research note on Friday, May 9th. Three investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to data from MarketBeat, Kraft Heinz currently has an average rating of "Hold" and a consensus price target of $30.35.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction on Friday, July 18th. The shares were sold at an average price of $27.91, for a total value of $697,750.00. Following the sale, the director directly owned 40,000 shares in the company, valued at approximately $1,116,400. The trade was a 38.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.35% of the company's stock.

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.