Invenomic Capital Management LP Lowers Stock Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Invenomic Capital Management LP cut its position in shares of The Kraft Heinz Company (NASDAQ:KHC) by 13.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 565,423 shares of the company’s stock after selling 89,806 shares during the period. Invenomic Capital Management LP’s holdings in Kraft Heinz were worth $17,364,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of KHC. Principal Financial Group Inc. boosted its position in Kraft Heinz by 14.4% during the third quarter. Principal Financial Group Inc. now owns 1,097,084 shares of the company’s stock valued at $38,519,000 after buying an additional 138,101 shares during the period. First Hawaiian Bank lifted its stake in shares of Kraft Heinz by 7.8% in the 4th quarter. First Hawaiian Bank now owns 11,713 shares of the company’s stock valued at $360,000 after acquiring an additional 849 shares during the last quarter. Czech National Bank boosted its holdings in Kraft Heinz by 6.4% during the 4th quarter. Czech National Bank now owns 191,387 shares of the company’s stock valued at $5,877,000 after acquiring an additional 11,587 shares during the period. City Center Advisors LLC grew its position in Kraft Heinz by 69.7% during the 4th quarter. City Center Advisors LLC now owns 21,941 shares of the company’s stock worth $674,000 after acquiring an additional 9,011 shares during the last quarter. Finally, Brookstone Capital Management lifted its position in Kraft Heinz by 229.8% in the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock valued at $10,530,000 after purchasing an additional 238,913 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on KHC. Piper Sandler lowered their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus dropped their target price on shares of Kraft Heinz from $31.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, April 30th. DZ Bank lowered Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price target for the company. in a research report on Friday. Bank of America cut Kraft Heinz from a “buy” rating to an “underperform” rating and reduced their target price for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Finally, StockNews.com raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $30.65.

Kraft Heinz Stock Down 1.4 %

Shares of Kraft Heinz stock opened at $28.08 on Friday. The company has a 50-day simple moving average of $29.61 and a two-hundred day simple moving average of $30.41. The stock has a market capitalization of $33.23 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 3.39 and a beta of 0.30. The Kraft Heinz Company has a 52-week low of $27.25 and a 52-week high of $36.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.69 EPS. On average, analysts anticipate that The Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.70%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s dividend payout ratio (DPR) is 73.06%.

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.