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

First City Capital Management Inc. reduced its stake in The Kraft Heinz Company (NASDAQ:KHC) by 14.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,934 shares of the company’s stock after selling 2,688 shares during the period. First City Capital Management Inc.’s holdings in Kraft Heinz were worth $513,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Frank Rimerman Advisors LLC purchased a new stake in shares of Kraft Heinz in the 2nd quarter valued at about $1,204,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Kraft Heinz by 16.3% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 667,154 shares of the company’s stock worth $21,496,000 after acquiring an additional 93,561 shares during the last quarter. Ensign Peak Advisors Inc increased its holdings in shares of Kraft Heinz by 15.3% in the 2nd quarter. Ensign Peak Advisors Inc now owns 673,136 shares of the company’s stock valued at $21,688,000 after acquiring an additional 89,245 shares during the period. Summit Trail Advisors LLC boosted its stake in Kraft Heinz by 60.7% during the 2nd quarter. Summit Trail Advisors LLC now owns 35,836 shares of the company’s stock worth $1,155,000 after purchasing an additional 13,542 shares during the period. Finally, Sei Investments Co. grew its position in Kraft Heinz by 12.8% during the 2nd quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock worth $24,495,000 after purchasing an additional 86,311 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity

In related news, insider Cory Onell sold 4,076 shares of the company’s 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 sale, the insider now owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $34.96 on Friday. The firm has a market capitalization of $42.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The business’s 50 day simple moving average is $34.80 and its 200-day simple moving average is $35.04. 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 posted its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. During the same period in the previous year, the business earned $0.79 earnings per share. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, equities analysts forecast that The Kraft Heinz Company will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on KHC shares. The Goldman Sachs Group assumed coverage on shares of Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 target price for the company. Citigroup decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Barclays boosted their target price on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Wells Fargo & Company increased their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $37.50.

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.