Sicart Associates LLC Lowers Stake in The Kraft Heinz Company (NASDAQ:KHC)

Sicart Associates LLC trimmed its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 6.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 256,441 shares of the company's stock after selling 17,635 shares during the period. Kraft Heinz makes up approximately 3.2% of Sicart Associates LLC's investment portfolio, making the stock its 7th largest holding. Sicart Associates LLC's holdings in Kraft Heinz were worth $9,004,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Fortitude Family Office LLC raised its holdings in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company's stock worth $26,000 after acquiring an additional 529 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz in the first quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. raised its stake in Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company's stock valued at $31,000 after buying an additional 797 shares during the period. Asset Dedication LLC raised its stake in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company's stock valued at $32,000 after buying an additional 476 shares during the period. Finally, Bangor Savings Bank bought a new stake in Kraft Heinz in the third quarter valued at approximately $32,000. 78.17% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Cory Onell sold 4,076 shares of the firm's stock in a transaction dated Friday, August 2nd. The stock was 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 in the company, valued at $5,182,920. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz Trading Down 0.9 %

NASDAQ:KHC traded down $0.33 during trading hours on Tuesday, hitting $34.80. 7,663,170 shares of the company were exchanged, compared to its average volume of 7,743,356. The stock has a market capitalization of $42.26 billion, a price-to-earnings ratio of 15.23, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96. The company has a fifty day simple moving average of $35.28 and a 200 day simple moving average of $34.87.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same period last year, the business posted $0.79 EPS. The business's revenue was down 3.3% compared to the same quarter last year. Sell-side analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were paid a $0.40 dividend. The ex-dividend date was Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.60%. Kraft Heinz's dividend payout ratio is presently 69.87%.

Analysts Set New Price Targets

Several equities analysts have recently commented on KHC shares. Barclays upped their target price on Kraft Heinz from $34.00 to $36.00 and gave the company an "equal weight" rating in a research report on Thursday, August 1st. Evercore ISI decreased their target price on Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating on the stock in a research report on Wednesday, July 31st. Bank of America decreased their target price 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. Deutsche Bank Aktiengesellschaft decreased their target price on Kraft Heinz from $43.00 to $39.00 and set a "buy" rating on the stock in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group began coverage on Kraft Heinz in a research report on Monday, August 12th. They issued a "sell" rating and a $34.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $37.58.

Kraft Heinz Company 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.