First Eagle Investment Management LLC Decreases Position in The Kraft Heinz Company (NASDAQ:KHC)

First Eagle Investment Management LLC reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 0.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,371,406 shares of the company’s stock after selling 26,476 shares during the quarter. First Eagle Investment Management LLC owned 0.52% of Kraft Heinz worth $205,287,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz during the fourth quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Kraft Heinz during the first quarter valued at about $27,000. Asset Dedication LLC increased 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 acquiring an additional 476 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Kraft Heinz in the fourth quarter worth about $38,000. Finally, Hantz Financial Services Inc. purchased a new position in Kraft Heinz in the second quarter valued at about $34,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on KHC shares. The Goldman Sachs Group assumed coverage on Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 price objective on the stock. Citigroup reduced their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Wells Fargo & Company boosted their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average price target of $37.50.

Kraft Heinz Trading Up 0.3 %

Shares of NASDAQ KHC opened at $35.14 on Thursday. The company has a market cap of $42.67 billion, a price-to-earnings ratio of 15.34, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The stock’s 50 day simple moving average is $34.69 and its 200 day simple moving average is $35.05. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. The Kraft Heinz Company has a 12-month low of $30.68 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. During the same quarter in the previous year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts expect that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.55%. Kraft Heinz’s payout ratio is currently 69.87%.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.32% of the company’s stock.

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.