The Kraft Heinz Company (NASDAQ:KHC) Shares Bought by Savoir Faire Capital Management L.P.

Savoir Faire Capital Management L.P. grew its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 9.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 220,883 shares of the company’s stock after purchasing an additional 19,905 shares during the period. Kraft Heinz makes up about 2.8% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 12th largest position. Savoir Faire Capital Management L.P.’s holdings in Kraft Heinz were worth $7,117,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Capital World Investors grew its stake in Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after purchasing an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock worth $178,379,000 after buying an additional 1,778,263 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Kraft Heinz by 346.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock valued at $57,799,000 after acquiring an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB grew its holdings in Kraft Heinz by 56.7% during the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after acquiring an additional 1,027,636 shares in the last quarter. Finally, Poplar Forest Capital LLC bought a new position in shares of Kraft Heinz during the second quarter worth about $26,353,000. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Trading Up 0.1 %

Kraft Heinz stock opened at $35.63 on Tuesday. The Kraft Heinz Company has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $43.08 billion, a price-to-earnings ratio of 15.56, a PEG ratio of 3.43 and a beta of 0.49. The firm has a 50-day moving average price of $34.56 and a two-hundred day moving average price of $35.05.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 EPS. Sell-side analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s payout ratio is currently 69.87%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on KHC. Citigroup cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Bank of America dropped their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. The Goldman Sachs Group initiated coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They set a “sell” rating and a $34.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $37.50.

Insider Activity at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.32% of the stock is currently owned by insiders.

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.