Invenomic Capital Management LP Purchases 103,815 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Invenomic Capital Management LP lifted its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 18.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 655,229 shares of the company’s stock after acquiring an additional 103,815 shares during the period. Kraft Heinz makes up approximately 1.3% of Invenomic Capital Management LP’s investment portfolio, making the stock its 27th largest position. Invenomic Capital Management LP owned about 0.05% of Kraft Heinz worth $23,005,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of KHC. MADDEN SECURITIES Corp lifted its holdings in Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares during the last quarter. HB Wealth Management LLC grew its position in Kraft Heinz by 2.5% during the second quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after buying an additional 314 shares during the period. Axiom Advisory LLC boosted its stake in Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after purchasing an additional 327 shares during the period. Norden Group LLC lifted its stake in shares of Kraft Heinz by 3.8% in the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after purchasing an additional 339 shares during the last quarter. Finally, Valley Wealth Managers Inc. raised its stake in shares of Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

KHC opened at $31.56 on Tuesday. The firm has a market cap of $38.16 billion, a PE ratio of 28.48, a P/E/G ratio of 3.65 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The stock has a 50-day moving average price of $33.77 and a 200-day moving average price of $34.10. The Kraft Heinz Company has a 1 year low of $30.40 and a 1 year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the prior year, the business earned $0.72 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.07%. Kraft Heinz’s payout ratio is 144.14%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KHC. Mizuho reduced their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Citigroup dropped their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. The Goldman Sachs Group reduced their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Finally, Barclays decreased their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and an average target price of $36.55.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.37% of the stock is currently owned by company insiders.

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.