Banque Pictet & Cie SA Increases Stake in Kraft Foods (KHC)

Banque Pictet & Cie SA lifted its holdings in Kraft Foods (NASDAQ:KHC) by 20.4% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 46,292 shares of the company’s stock after purchasing an additional 7,830 shares during the period. Banque Pictet & Cie SA’s holdings in Kraft Foods were worth $2,884,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in KHC. American International Group Inc. lifted its position in shares of Kraft Foods by 1,928.1% in the 4th quarter. American International Group Inc. now owns 6,110,926 shares of the company’s stock worth $475,186,000 after purchasing an additional 5,809,615 shares during the period. Magellan Asset Management Ltd lifted its position in shares of Kraft Foods by 30.4% in the 4th quarter. Magellan Asset Management Ltd now owns 21,429,032 shares of the company’s stock worth $1,666,322,000 after purchasing an additional 4,998,778 shares during the period. BlackRock Inc. lifted its position in shares of Kraft Foods by 4.6% in the 4th quarter. BlackRock Inc. now owns 35,073,958 shares of the company’s stock worth $2,727,351,000 after purchasing an additional 1,551,823 shares during the period. River Road Asset Management LLC purchased a new stake in shares of Kraft Foods in the 1st quarter worth approximately $52,298,000. Finally, Virtus Fund Advisers LLC lifted its position in shares of Kraft Foods by 1,123.1% in the 4th quarter. Virtus Fund Advisers LLC now owns 865,149 shares of the company’s stock worth $67,274,000 after purchasing an additional 794,415 shares during the period. 63.13% of the stock is owned by hedge funds and other institutional investors.

NASDAQ KHC opened at $58.06 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.72 and a quick ratio of 0.42. The company has a market cap of $71.98 billion, a P/E ratio of 16.35, a PEG ratio of 1.86 and a beta of 0.61. Kraft Foods has a 52 week low of $58.59 and a 52 week high of $59.30.

Kraft Foods (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, May 2nd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.07. Kraft Foods had a net margin of 42.41% and a return on equity of 7.06%. The business had revenue of $6.30 billion for the quarter, compared to analyst estimates of $6.32 billion. During the same quarter in the prior year, the business posted $0.84 EPS. Kraft Foods’s revenue for the quarter was down .3% compared to the same quarter last year. research analysts forecast that Kraft Foods will post 3.8 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Shareholders of record on Friday, May 18th will be paid a dividend of $0.625 per share. The ex-dividend date of this dividend is Thursday, May 17th. This represents a $2.50 dividend on an annualized basis and a yield of 4.31%. Kraft Foods’s payout ratio is 70.42%.

In related news, Director Mackey J. Mcdonald purchased 669 shares of the business’s stock in a transaction on Monday, April 2nd. The shares were acquired at an average price of $60.27 per share, for a total transaction of $40,320.63. Following the purchase, the director now owns 17,486 shares of the company’s stock, valued at approximately $1,053,881.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 26.81% of the company’s stock.

KHC has been the subject of several research reports. Credit Suisse Group cut shares of Kraft Foods from an “outperform” rating to a “sell” rating and upped their price target for the stock from $77.00 to $90.00 in a research report on Monday, April 16th. Societe Generale initiated coverage on shares of Kraft Foods in a research report on Thursday, March 15th. They issued a “sell” rating for the company. JPMorgan Chase reaffirmed an “overweight” rating and issued a $81.00 price target (down previously from $87.00) on shares of Kraft Foods in a research report on Tuesday, February 20th. Morgan Stanley set a $73.00 price target on shares of Kraft Foods and gave the stock a “buy” rating in a research report on Wednesday, April 18th. Finally, Barclays reaffirmed a “buy” rating and issued a $80.00 price target (down previously from $94.00) on shares of Kraft Foods in a research report on Sunday, February 18th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $78.91.

Kraft Foods Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

Want to see what other hedge funds are holding KHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kraft Foods (NASDAQ:KHC).

Institutional Ownership by Quarter for Kraft Foods (NASDAQ:KHC)

Receive News & Ratings for Kraft Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Foods and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply