Invenomic Capital Management LP Sells 89,806 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Invenomic Capital Management LP lowered its position in The Kraft Heinz Company (NASDAQ:KHC - Free Report) by 13.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 565,423 shares of the company's stock after selling 89,806 shares during the quarter. Invenomic Capital Management LP's holdings in Kraft Heinz were worth $17,364,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. New York Life Investment Management LLC raised its holdings in Kraft Heinz by 0.3% in the 4th quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock worth $3,995,000 after purchasing an additional 361 shares during the period. Checchi Capital Advisers LLC raised its holdings in shares of Kraft Heinz by 5.3% during the fourth quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock valued at $223,000 after acquiring an additional 366 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Kraft Heinz by 1.0% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock valued at $1,097,000 after acquiring an additional 370 shares during the last quarter. Winch Advisory Services LLC raised its holdings in shares of Kraft Heinz by 20.1% during the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company's stock valued at $70,000 after acquiring an additional 380 shares during the last quarter. Finally, Rehmann Capital Advisory Group raised its holdings in shares of Kraft Heinz by 3.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company's stock valued at $427,000 after acquiring an additional 408 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company's stock.

Kraft Heinz Price Performance

KHC stock traded down $0.42 during midday trading on Wednesday, reaching $27.18. 2,916,327 shares of the company's stock traded hands, compared to its average volume of 9,168,836. The company has a 50-day simple moving average of $29.48 and a two-hundred day simple moving average of $30.32. The Kraft Heinz Company has a 1-year low of $27.17 and a 1-year high of $36.70. The company has a market cap of $32.16 billion, a price-to-earnings ratio of 12.02, a PEG ratio of 3.39 and a beta of 0.30. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. The firm had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The business's quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.69 EPS. On average, analysts anticipate that The Kraft Heinz Company will post 2.68 earnings per share for the current 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 issued a dividend of $0.40 per share. The ex-dividend date is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 5.89%. Kraft Heinz's dividend payout ratio is presently 73.06%.

Wall Street Analysts Forecast Growth

KHC has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price objective on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. 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, May 9th. Stifel Nicolaus lowered their price target on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research report on Wednesday, April 30th. Bank of America lowered Kraft Heinz from a "buy" rating to an "underperform" rating and decreased their target price for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Finally, UBS Group cut their price target on Kraft Heinz from $37.00 to $31.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Four equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $30.65.

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.