Metis Global Partners LLC Acquires 2,273 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Metis Global Partners LLC increased its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 5.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,345 shares of the company’s stock after acquiring an additional 2,273 shares during the quarter. Metis Global Partners LLC’s holdings in Kraft Heinz were worth $1,592,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Fortitude Family Office LLC boosted its holdings in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares during the last quarter. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz in the first quarter worth about $27,000. Ashton Thomas Securities LLC purchased a new position in Kraft Heinz in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. grew its position in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after acquiring an additional 797 shares during the period. Finally, Asset Dedication LLC increased its stake in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction 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 transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

KHC has been the subject of several research reports. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Piper Sandler lowered their price objective on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research note on Thursday, October 31st. Mizuho cut their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.00.

Kraft Heinz Price Performance

KHC stock opened at $31.14 on Friday. The firm has a 50 day moving average of $34.53 and a 200-day moving average of $34.46. The firm has a market capitalization of $37.65 billion, a P/E ratio of 28.05, a price-to-earnings-growth ratio of 3.67 and a beta of 0.49. The Kraft Heinz Company has a 12 month low of $30.40 and a 12 month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period last year, the firm earned $0.72 EPS. As a group, sell-side analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.14%. Kraft Heinz’s payout ratio is currently 144.14%.

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.