Savoir Faire Capital Management L.P. Lowers Stake in The Kraft Heinz Company (NASDAQ:KHC)

Savoir Faire Capital Management L.P. reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 47.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 117,132 shares of the company's stock after selling 103,751 shares during the quarter. Kraft Heinz comprises about 2.1% of Savoir Faire Capital Management L.P.'s portfolio, making the stock its 24th biggest position. Savoir Faire Capital Management L.P.'s holdings in Kraft Heinz were worth $4,113,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. New England Asset Management Inc. lifted its stake in shares of Kraft Heinz by 3.1% in the third quarter. New England Asset Management Inc. now owns 84,200 shares of the company's stock valued at $2,956,000 after buying an additional 2,505 shares in the last quarter. Aviso Wealth Management lifted its position in Kraft Heinz by 14.4% in the 3rd quarter. Aviso Wealth Management now owns 66,397 shares of the company's stock valued at $2,331,000 after acquiring an additional 8,338 shares in the last quarter. Swiss National Bank boosted its stake in Kraft Heinz by 0.3% during the 3rd quarter. Swiss National Bank now owns 2,702,842 shares of the company's stock valued at $94,897,000 after purchasing an additional 9,000 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Kraft Heinz by 23.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company's stock worth $1,848,000 after purchasing an additional 9,833 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its holdings in shares of Kraft Heinz by 9.2% in the third quarter. Mutual of America Capital Management LLC now owns 108,792 shares of the company's stock valued at $3,820,000 after purchasing an additional 9,157 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.37% of the company's stock.

Analyst Upgrades and Downgrades

KHC has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an "equal weight" rating in a report on Thursday, August 1st. Evercore ISI reduced their target price on Kraft Heinz from $42.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, July 31st. JPMorgan Chase & Co. decreased their price target on Kraft Heinz from $38.00 to $37.00 and set a "neutral" rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus cut Kraft Heinz from a "buy" rating to a "hold" rating and cut their price objective for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Piper Sandler reaffirmed a "neutral" rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday. One analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $36.55.

Kraft Heinz Stock Performance

Shares of KHC traded down $0.49 during trading hours on Tuesday, hitting $30.58. The company's stock had a trading volume of 14,507,710 shares, compared to its average volume of 7,909,169. The business has a 50 day simple moving average of $34.43 and a two-hundred day simple moving average of $34.38. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The company has a market cap of $36.98 billion, a price-to-earnings ratio of 27.99, a PEG ratio of 3.56 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the business earned $0.72 EPS. Kraft Heinz's revenue was down 2.8% compared to the same quarter last year. On average, equities analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.23%. Kraft Heinz's dividend payout ratio is currently 144.14%.

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.