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

Invenomic Capital Management LP lifted its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 18.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 655,229 shares of the company’s stock after acquiring an additional 103,815 shares during the period. Kraft Heinz makes up about 1.3% of Invenomic Capital Management LP’s portfolio, making the stock its 27th largest holding. Invenomic Capital Management LP’s holdings in Kraft Heinz were worth $23,005,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its stake in Kraft Heinz by 11.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares during the period. Clifford Capital Partners LLC lifted its position in Kraft Heinz by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock valued at $14,656,000 after acquiring an additional 80,101 shares in the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Kraft Heinz by 52.5% during the 3rd quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock worth $5,988,000 after acquiring an additional 58,665 shares during the last quarter. Easterly Investment Partners LLC raised its position in shares of Kraft Heinz by 39.4% during the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock valued at $5,529,000 after buying an additional 44,485 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its holdings in Kraft Heinz by 1,760.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 655,312 shares of the company’s stock valued at $23,008,000 after purchasing an additional 620,096 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Trading Down 0.2 %

NASDAQ:KHC opened at $31.56 on Tuesday. The Kraft Heinz Company has a 52-week low of $30.40 and a 52-week high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock’s 50 day moving average price is $33.77 and its 200 day moving average price is $34.10. The company has a market capitalization of $38.16 billion, a PE ratio of 28.48, a P/E/G ratio of 3.65 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.72 earnings per share. On average, research analysts anticipate that The Kraft Heinz Company will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.07%. Kraft Heinz’s dividend payout ratio (DPR) is 144.14%.

Insider Transactions at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on KHC. Piper Sandler reissued a “neutral” rating and issued a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Citigroup cut their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research report on Thursday, October 31st. Mizuho lowered their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. Finally, Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $36.55.

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.