Kraft Heinz Company $KHC Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC trimmed its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 5.1% during the second quarter, Holdings Channel reports. The firm owned 56,002 shares of the company’s stock after selling 2,997 shares during the period. Metis Global Partners LLC’s holdings in Kraft Heinz were worth $1,446,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bryn Mawr Trust Advisors LLC lifted its stake in Kraft Heinz by 13.1% in the second quarter. Bryn Mawr Trust Advisors LLC now owns 295,500 shares of the company’s stock valued at $7,630,000 after buying an additional 34,120 shares during the last quarter. Savant Capital LLC increased its holdings in shares of Kraft Heinz by 51.5% in the 2nd quarter. Savant Capital LLC now owns 18,006 shares of the company’s stock worth $465,000 after acquiring an additional 6,122 shares during the period. Achmea Investment Management B.V. increased its holdings in shares of Kraft Heinz by 0.9% in the 2nd quarter. Achmea Investment Management B.V. now owns 77,694 shares of the company’s stock worth $2,006,000 after acquiring an additional 673 shares during the period. SouthState Corp lifted its position in Kraft Heinz by 260.8% in the 2nd quarter. SouthState Corp now owns 4,210 shares of the company’s stock valued at $109,000 after purchasing an additional 3,043 shares during the last quarter. Finally, Resona Asset Management Co. Ltd. boosted its stake in Kraft Heinz by 1.2% during the 2nd quarter. Resona Asset Management Co. Ltd. now owns 392,080 shares of the company’s stock valued at $10,114,000 after purchasing an additional 4,769 shares during the period. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Trading Up 0.4%

Shares of Kraft Heinz stock opened at $24.38 on Tuesday. The business has a fifty day simple moving average of $25.63 and a 200-day simple moving average of $26.71. Kraft Heinz Company has a fifty-two week low of $23.70 and a fifty-two week high of $33.35. The firm has a market cap of $28.86 billion, a price-to-earnings ratio of -6.54, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The firm had revenue of $6.39 billion for the quarter. On average, equities analysts forecast that Kraft Heinz Company will post 2.68 EPS for the current fiscal year.

Kraft Heinz Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.6%. Kraft Heinz’s dividend payout ratio is currently -42.90%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KHC shares. Wells Fargo & Company reduced their price objective on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. Mizuho cut their target price on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 28th. Jefferies Financial Group decreased their price target on Kraft Heinz from $28.00 to $24.00 and set a “hold” rating for the company in a research note on Wednesday, October 15th. Stifel Nicolaus cut their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Wednesday, September 3rd. Finally, Piper Sandler reduced their price objective on shares of Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Kraft Heinz presently has a consensus rating of “Reduce” and a consensus target price of $26.58.

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.