Assenagon Asset Management S.A. Has $3.61 Million Position in The Kraft Heinz Company (NASDAQ:KHC)

Assenagon Asset Management S.A. lowered its position in The Kraft Heinz Company (NASDAQ:KHC) by 91.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 102,765 shares of the company’s stock after selling 1,043,662 shares during the period. Assenagon Asset Management S.A.’s holdings in Kraft Heinz were worth $3,608,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KHC. Capital World Investors increased its holdings in Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Kraft Heinz by 346.9% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock valued at $57,799,000 after purchasing an additional 1,179,863 shares during the last quarter. Nordea Investment Management AB grew its holdings in Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after purchasing an additional 1,027,636 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Kraft Heinz by 260.8% during the second quarter. Marshall Wace LLP now owns 1,169,657 shares of the company’s stock valued at $37,686,000 after purchasing an additional 845,490 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

KHC has been the topic of several analyst reports. The Goldman Sachs Group initiated coverage on Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 price target on the stock. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. Deutsche Bank Aktiengesellschaft lowered their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Bank of America lowered their price target on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Finally, Wells Fargo & Company raised their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus target price of $37.58.

Kraft Heinz Stock Down 3.1 %

Shares of KHC stock opened at $33.73 on Thursday. The stock has a market cap of $40.96 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. The Kraft Heinz Company has a one year low of $31.08 and a one year high of $38.96. The stock has a fifty day moving average price of $35.24 and a 200 day moving average price of $34.86. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The firm had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. Kraft Heinz’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.79 earnings per share. Analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.74%. Kraft Heinz’s payout ratio is presently 69.87%.

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.