Metis Global Partners LLC Increases Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Metis Global Partners LLC boosted its position in The Kraft Heinz Company (NASDAQ:KHC) by 5.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 45,345 shares of the company’s stock after purchasing an additional 2,273 shares during the period. Metis Global Partners LLC’s holdings in Kraft Heinz were worth $1,592,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. MADDEN SECURITIES Corp increased its holdings in shares of Kraft Heinz by 2.4% in the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after buying an additional 303 shares during the period. HB Wealth Management LLC grew its position in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after acquiring an additional 314 shares during the last quarter. Axiom Advisory LLC increased 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 position in Kraft Heinz by 3.8% in the second 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. boosted 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 purchasing an additional 340 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Barclays lowered their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. Mizuho lowered their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. The Goldman Sachs Group cut their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday, October 31st. Piper Sandler lowered their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Citigroup reduced their target price 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $37.00.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

Kraft Heinz Trading Down 2.0 %

KHC opened at $31.14 on Friday. The business has a 50 day moving average of $34.53 and a 200-day moving average of $34.46. 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 has a market cap of $37.65 billion, a PE ratio of 28.05, a PEG ratio of 3.67 and a beta of 0.49. The Kraft Heinz Company has a 52 week low of $30.40 and a 52 week high of $38.96.

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 the consensus estimate of $0.74 by $0.01. The company 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%. Kraft Heinz’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the business earned $0.72 EPS. Equities research analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.14%. Kraft Heinz’s dividend payout ratio is currently 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.