Savoir Faire Capital Management L.P. Sells 103,751 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Savoir Faire Capital Management L.P. lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 47.0% in the third quarter, HoldingsChannel.com reports. The fund owned 117,132 shares of the company’s stock after selling 103,751 shares during the period. Kraft Heinz accounts for about 2.1% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 24th largest holding. Savoir Faire Capital Management L.P.’s holdings in Kraft Heinz were worth $4,113,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. LSV Asset Management lifted its holdings in Kraft Heinz by 2.1% in the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after acquiring an additional 189,000 shares during the period. Legal & General Group Plc increased its holdings in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after purchasing an additional 799,581 shares during the period. Capital World Investors increased its holdings in shares of Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after acquiring an additional 3,961,872 shares during the period. Dimensional Fund Advisors LP increased its position in Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after buying an additional 1,778,263 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Kraft Heinz by 14.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock valued at $130,912,000 after purchasing an additional 505,180 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC opened at $31.07 on Tuesday. The stock’s 50 day moving average is $34.43 and its two-hundred day moving average is $34.38. The firm has a market capitalization of $37.57 billion, a PE ratio of 27.99, a P/E/G ratio of 3.56 and a beta of 0.49. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The Kraft Heinz Company has a twelve month low of $30.40 and a twelve month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. Research analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.15%. Kraft Heinz’s dividend payout ratio (DPR) is 144.14%.

Analysts Set New Price Targets

A number of analysts have recently commented on KHC shares. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Citigroup lowered their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Barclays reduced their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Mizuho reduced their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Finally, The Goldman Sachs Group cut their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $37.00.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.37% of the stock is owned by company 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.