Sanibel Captiva Trust Company Inc. Sells 13,085 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Sanibel Captiva Trust Company Inc. decreased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 115,203 shares of the company’s stock after selling 13,085 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Kraft Heinz were worth $3,538,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KHC. Fortitude Family Office LLC raised its holdings in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares during the period. Ashton Thomas Securities LLC bought a new position in Kraft Heinz during the third quarter valued at $27,000. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at $25,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after acquiring an additional 797 shares during the last quarter. Finally, Bangor Savings Bank purchased a new position in shares of Kraft Heinz during the 3rd quarter worth about $32,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.37% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on KHC shares. Citigroup decreased their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. Wells Fargo & Company cut their price objective on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Barclays decreased their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Finally, The Goldman Sachs Group cut their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus price target of $35.23.

Kraft Heinz Price Performance

Shares of KHC opened at $29.27 on Friday. The stock has a market capitalization of $35.39 billion, a PE ratio of 26.37, a PEG ratio of 3.29 and a beta of 0.48. The company has a 50 day moving average price of $30.87 and a 200-day moving average price of $33.22. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The Kraft Heinz Company has a fifty-two week low of $28.37 and a fifty-two week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.72 EPS. Equities analysts predict that The Kraft Heinz Company will post 3 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.47%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

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.