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

Savoir Faire Capital Management L.P. cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 54.0% in the fourth quarter, Holdings Channel reports. The fund 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 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several research firms recently commented on KHC. Citigroup lowered shares of Kraft Heinz from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $28.00 in a research note on Thursday, February 13th. UBS Group reduced their price target on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $38.00 to $31.00 in a research report on Monday, February 10th. The Goldman Sachs Group reduced their target price on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a research report on Thursday, February 13th. Finally, Stifel Nicolaus lowered their price target on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.73.

Kraft Heinz Trading Up 2.3 %

Shares of Kraft Heinz stock opened at $30.81 on Friday. The stock has a market cap of $36.77 billion, a PE ratio of 13.63, a price-to-earnings-growth ratio of 3.39 and a beta of 0.44. The firm has a fifty day moving average price of $30.09 and a 200 day moving average price of $31.60. The Kraft Heinz Company has a 1 year low of $27.25 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Equities research analysts predict that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 7th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.19%. The ex-dividend date was Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is 70.80%.

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.