First Eagle Investment Management LLC Cuts Stock Position in Kraft Heinz Company $KHC

First Eagle Investment Management LLC decreased its stake in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 18.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,974,279 shares of the company's stock after selling 900,439 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.34% of Kraft Heinz worth $102,616,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Meeder Advisory Services Inc. grew its holdings in Kraft Heinz by 2.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company's stock valued at $459,000 after purchasing an additional 393 shares in the last quarter. one8zero8 LLC grew its holdings in Kraft Heinz by 5.5% in the 1st quarter. one8zero8 LLC now owns 7,964 shares of the company's stock worth $242,000 after buying an additional 414 shares in the last quarter. Winch Advisory Services LLC lifted its stake in shares of Kraft Heinz by 18.3% in the 1st quarter. Winch Advisory Services LLC now owns 2,691 shares of the company's stock worth $82,000 after acquiring an additional 417 shares during the period. IFP Advisors Inc lifted its holdings in Kraft Heinz by 8.9% in the 1st quarter. IFP Advisors Inc now owns 5,115 shares of the company's stock valued at $157,000 after acquiring an additional 420 shares during the last quarter. Finally, Rathbones Group PLC grew its holdings in shares of Kraft Heinz by 0.8% in the 1st quarter. Rathbones Group PLC now owns 56,798 shares of the company's stock worth $1,728,000 after acquiring an additional 442 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Morgan Stanley reduced their target price on Kraft Heinz from $28.00 to $27.00 and set an "equal weight" rating for the company in a report on Thursday, October 30th. The Goldman Sachs Group reduced their price target on Kraft Heinz from $30.00 to $27.00 in a report on Thursday, October 30th. Evercore ISI decreased their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set an "in-line" rating for the company in a report on Thursday, October 30th. UBS Group cut their price objective on Kraft Heinz from $27.00 to $25.00 and set a "neutral" rating on the stock in a research note on Thursday, October 30th. Finally, BNP Paribas Exane lowered their target price on shares of Kraft Heinz from $29.00 to $26.00 in a research note on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $26.58.

Kraft Heinz Stock Up 0.1%

Shares of NASDAQ KHC traded up $0.02 during mid-day trading on Monday, reaching $24.30. 16,356,083 shares of the company's stock were exchanged, compared to its average volume of 13,470,133. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $26.75. Kraft Heinz Company has a twelve month low of $23.70 and a twelve month high of $33.35. The firm has a market capitalization of $28.76 billion, a price-to-earnings ratio of -6.51, a PEG ratio of 2.88 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. The firm had revenue of $6.39 billion for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. As a group, equities analysts expect that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date is Friday, November 28th. Kraft Heinz's payout ratio is -42.90%.

About Kraft Heinz

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.