Savoir Faire Capital Management L.P. Sells 63,231 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Savoir Faire Capital Management L.P. lessened its holdings in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 54.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 53,901 shares of the company's stock after selling 63,231 shares during the quarter. Savoir Faire Capital Management L.P.'s holdings in Kraft Heinz were worth $1,655,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock worth $2,779,524,000 after buying an additional 14,996,486 shares during the last quarter. State Street Corp raised its holdings in Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company's stock worth $1,558,898,000 after acquiring an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC lifted its position in Kraft Heinz by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company's stock valued at $604,644,000 after acquiring an additional 595,406 shares in the last quarter. Norges Bank purchased a new stake in Kraft Heinz during the 4th quarter valued at $324,857,000. Finally, Nordea Investment Management AB increased its holdings in shares of Kraft Heinz by 16.3% in the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock worth $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

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Kraft Heinz Price Performance

NASDAQ KHC traded up $0.31 during trading hours on Wednesday, reaching $28.00. The company's stock had a trading volume of 5,089,986 shares, compared to its average volume of 8,924,458. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $33.41 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 3.39 and a beta of 0.44. The firm's 50-day moving average price is $29.98 and its 200-day moving average price is $31.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. On average, equities research analysts predict that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were given a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.72%. Kraft Heinz's dividend payout ratio is currently 70.80%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on KHC. TD Cowen dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a "hold" rating on the stock in a research report on Wednesday, January 8th. Piper Sandler cut their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company lowered their target price on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a report on Thursday, February 13th. Evercore ISI reiterated an "in-line" rating and issued a $35.00 price objective (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, Mizuho lowered shares of Kraft Heinz from an "outperform" rating to a "neutral" rating and cut their target price for the company from $38.00 to $31.00 in a research report on Monday, February 10th. Four research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.67.

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.