Savoir Faire Capital Management L.P. Buys Shares of 496,263 Kraft Heinz Company $KHC

Savoir Faire Capital Management L.P. purchased a new position in shares of Kraft Heinz Company (NASDAQ:KHC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 496,263 shares of the company’s stock, valued at approximately $12,923,000. Kraft Heinz accounts for approximately 4.6% of Savoir Faire Capital Management L.P.’s portfolio, making the stock its 4th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lorne Steinberg Wealth Management Inc. raised its position in shares of Kraft Heinz by 0.6% in the third quarter. Lorne Steinberg Wealth Management Inc. now owns 108,460 shares of the company’s stock valued at $2,824,000 after purchasing an additional 640 shares during the period. Cullen Frost Bankers Inc. boosted its holdings in shares of Kraft Heinz by 36.5% in the third quarter. Cullen Frost Bankers Inc. now owns 11,164 shares of the company’s stock worth $291,000 after acquiring an additional 2,983 shares during the period. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of Kraft Heinz by 23.3% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 219,647 shares of the company’s stock worth $5,720,000 after acquiring an additional 41,503 shares during the period. Barrett & Company Inc. raised its stake in shares of Kraft Heinz by 22.7% during the 3rd quarter. Barrett & Company Inc. now owns 2,700 shares of the company’s stock valued at $70,000 after purchasing an additional 500 shares during the period. Finally, 1834 Investment Advisors Co. raised its stake in shares of Kraft Heinz by 8.1% during the 3rd quarter. 1834 Investment Advisors Co. now owns 30,607 shares of the company’s stock valued at $797,000 after purchasing an additional 2,285 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $23.20 on Monday. Kraft Heinz Company has a fifty-two week low of $21.99 and a fifty-two week high of $33.35. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13. The stock has a market cap of $27.46 billion, a P/E ratio of -6.22 and a beta of 0.09. The firm’s fifty day moving average price is $24.29 and its 200-day moving average price is $25.70.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 29th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.04. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The business had revenue of $6.24 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the prior year, the firm earned $0.75 earnings per share. The firm’s revenue was down 2.3% on a year-over-year basis. Kraft Heinz has set its FY 2025 guidance at 2.500-2.57 EPS. On average, equities research analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.9%. Kraft Heinz’s dividend payout ratio is currently -42.90%.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of recent analyst reports. BNP Paribas Exane lowered Kraft Heinz from a “neutral” rating to an “underperform” rating and set a $22.00 target price for the company. in a report on Wednesday, January 21st. Zacks Research raised shares of Kraft Heinz from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 1st. Evercore ISI decreased their target price on shares of Kraft Heinz from $28.00 to $25.00 in a report on Friday, January 9th. TD Cowen lowered their target price on shares of Kraft Heinz from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. Finally, HSBC reduced their price target on shares of Kraft Heinz from $29.00 to $27.00 in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and five have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $26.16.

Insider Buying and Selling

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the transaction, the insider directly owned 686,817 shares in the company, valued at $17,046,797.94. This trade represents a 15.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.35% of the stock is owned by insiders.

Kraft Heinz Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.