First City Capital Management Inc. Sells 4,502 Shares of The Kraft Heinz Company (NASDAQ:KHC)

First City Capital Management Inc. decreased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 28.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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.

Several other large investors have also added to or reduced their stakes in KHC. Fortitude Family Office LLC raised its holdings in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares during the period. New Covenant Trust Company N.A. bought a new position in Kraft Heinz in the first quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new stake in Kraft Heinz in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after acquiring an additional 797 shares in the last quarter. Finally, Asset Dedication LLC raised its position in shares of Kraft Heinz by 94.8% during the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s 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 completion of the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.37% of the company’s stock.

Kraft Heinz Trading Down 0.2 %

Shares of KHC stock opened at $31.07 on Tuesday. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The firm has a market cap of $37.57 billion, a P/E ratio of 27.99, a PEG ratio of 3.56 and a beta of 0.49. The company has a 50 day moving average of $34.43 and a 200-day moving average of $34.38. The Kraft Heinz Company has a 12-month low of $30.40 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued 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. The firm had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. Sell-side analysts anticipate that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.15%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KHC shares. The Goldman Sachs Group cut their price target 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. Stifel Nicolaus downgraded 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 report on Friday, October 25th. JPMorgan Chase & Co. dropped their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Piper Sandler reduced their target price on shares of Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, October 31st. Finally, Wells Fargo & Company raised their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $37.00.

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.