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

First City Capital Management Inc. trimmed its stake in The Kraft Heinz Company (NASDAQ:KHC) by 14.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,934 shares of the company’s stock after selling 2,688 shares during the quarter. First City Capital Management Inc.’s holdings in Kraft Heinz were worth $513,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Steward Partners Investment Solutions LLC acquired a new stake in Kraft Heinz during the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz in the 1st quarter valued at $27,000. Asset Dedication LLC lifted its holdings in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in Kraft Heinz during the 2nd quarter worth $34,000. Finally, Valley Wealth Managers Inc. increased its holdings in Kraft Heinz by 46.4% in the 2nd quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after purchasing an additional 340 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on KHC shares. Wells Fargo & Company upped their target price on 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 lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. Citigroup reduced their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. JPMorgan Chase & Co. lowered their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a report on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $37.50.

Kraft Heinz Price Performance

Shares of KHC opened at $34.96 on Friday. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. 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 firm has a market cap of $42.45 billion, a price-to-earnings ratio of 15.27, a PEG ratio of 3.43 and a beta of 0.49. The stock has a 50 day moving average of $34.80 and a 200-day moving average of $35.04.

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

Kraft Heinz Announces Dividend

The firm also recently announced 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. The ex-dividend date is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.58%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Activity

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

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.