First City Capital Management Inc. Lowers Holdings in The Kraft Heinz Company (NASDAQ:KHC)

First City Capital Management Inc. reduced its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 28.3% in the third quarter, Holdings Channel reports. The firm owned 11,432 shares of the company’s stock after selling 4,502 shares during the period. First City Capital Management Inc.’s holdings in Kraft Heinz were worth $401,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Caprock Group LLC lifted its stake in Kraft Heinz by 5.1% during the third quarter. Caprock Group LLC now owns 52,508 shares of the company’s stock worth $1,844,000 after purchasing an additional 2,538 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Kraft Heinz by 34.4% during the 3rd quarter. Pathstone Holdings LLC now owns 96,151 shares of the company’s stock valued at $3,376,000 after purchasing an additional 24,606 shares during the period. New England Asset Management Inc. raised its holdings in shares of Kraft Heinz by 3.1% during the third quarter. New England Asset Management Inc. now owns 84,200 shares of the company’s stock valued at $2,956,000 after acquiring an additional 2,505 shares in the last quarter. Aviso Wealth Management lifted its position in shares of Kraft Heinz by 14.4% in the 3rd quarter. Aviso Wealth Management now owns 66,397 shares of the company’s stock worth $2,331,000 after purchasing an additional 8,338 shares during the period. Finally, Swiss National Bank boosted its position 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 acquiring an additional 9,000 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.37% of the company’s stock.

Kraft Heinz Stock Down 0.2 %

NASDAQ KHC opened at $31.07 on Tuesday. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. 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 has a market cap 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 stock’s 50 day moving average is $34.43 and its 200 day moving average is $34.38.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Research analysts predict 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. Stockholders of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.15%. Kraft Heinz’s payout ratio is 144.14%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler reduced their price objective on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, October 31st. Barclays cut their price objective 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. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $35.00 in a research 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’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $37.00.

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.