209,817 Shares in The Kraft Heinz Company (NASDAQ:KHC) Bought by Invenomic Capital Management LP

Invenomic Capital Management LP purchased a new stake in The Kraft Heinz Company (NASDAQ:KHC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 209,817 shares of the company’s stock, valued at approximately $7,742,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $32,000. Transcendent Capital Group LLC bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $38,000. Janiczek Wealth Management LLC grew its holdings in shares of Kraft Heinz by 409.4% in the 1st quarter. Janiczek Wealth Management LLC now owns 1,187 shares of the company’s stock valued at $44,000 after acquiring an additional 954 shares in the last quarter. Finally, AlphaMark Advisors LLC grew its holdings in shares of Kraft Heinz by 128.9% in the 1st quarter. AlphaMark Advisors LLC now owns 1,181 shares of the company’s stock valued at $44,000 after acquiring an additional 665 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insiders Place Their Bets

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on KHC. Deutsche Bank Aktiengesellschaft raised their price objective on Kraft Heinz from $42.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, April 18th. Wells Fargo & Company reduced their price target on Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating for the company in a report on Thursday, June 27th. Citigroup reduced their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 17th. Barclays reduced their price target on Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating for the company in a report on Friday, July 19th. Finally, Piper Sandler reduced their price target on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a report on Thursday, June 20th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz presently has an average rating of “Moderate Buy” and a consensus price target of $38.83.

Kraft Heinz Price Performance

Shares of NASDAQ KHC traded up $0.42 during midday trading on Tuesday, reaching $33.84. The company’s stock had a trading volume of 11,638,508 shares, compared to its average volume of 7,908,276. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The Kraft Heinz Company has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The business’s 50 day moving average price is $33.41 and its two-hundred day moving average price is $35.35. The company has a market cap of $41.09 billion, a P/E ratio of 14.78, a P/E/G ratio of 3.35 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same period in the previous year, the business earned $0.68 earnings per share. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. On average, analysts forecast that The Kraft Heinz Company will post 2.99 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, June 6th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.73%. Kraft Heinz’s payout ratio is presently 69.87%.

Kraft Heinz Company 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.