Savoir Faire Capital Management L.P. Has $4.11 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Savoir Faire Capital Management L.P. reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 47.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,132 shares of the company’s stock after selling 103,751 shares during the period. Kraft Heinz accounts for approximately 2.1% of Savoir Faire Capital Management L.P.’s investment portfolio, making the stock its 24th biggest position. Savoir Faire Capital Management L.P.’s holdings in Kraft Heinz were worth $4,113,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. New England Asset Management Inc. lifted its position in Kraft Heinz by 3.1% during the third quarter. New England Asset Management Inc. now owns 84,200 shares of the company’s stock worth $2,956,000 after purchasing an additional 2,505 shares during the period. Aviso Wealth Management lifted its holdings in shares of Kraft Heinz by 14.4% in the third quarter. Aviso Wealth Management now owns 66,397 shares of the company’s stock worth $2,331,000 after acquiring an additional 8,338 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Kraft Heinz by 0.3% in the third quarter. Swiss National Bank now owns 2,702,842 shares of the company’s stock worth $94,897,000 after acquiring an additional 9,000 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Kraft Heinz by 23.0% in the third quarter. Thrivent Financial for Lutherans now owns 52,628 shares of the company’s stock worth $1,848,000 after acquiring an additional 9,833 shares during 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 worth $3,820,000 after acquiring an additional 9,157 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $31.07 on Tuesday. 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 stock’s fifty day simple moving average is $34.43 and its two-hundred day simple moving average is $34.38. The Kraft Heinz Company has a 1-year low of $30.40 and a 1-year high of $38.96. The stock has a market cap of $37.57 billion, a PE ratio of 27.99, a price-to-earnings-growth ratio of 3.56 and a beta of 0.49.

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

Kraft Heinz Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have recently commented on KHC shares. Wells Fargo & Company increased their target price 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. Barclays lowered their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group lowered their price objective on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their target price 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. Finally, Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $38.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $37.00.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction dated 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 completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is currently owned by insiders.

Kraft Heinz 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.