Assenagon Asset Management S.A. Has $1.60 Million Stock Position in Kraft Heinz Company $KHC

Assenagon Asset Management S.A. reduced its stake in shares of Kraft Heinz Company (NASDAQ:KHC) by 33.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 61,360 shares of the company’s stock after selling 31,491 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Kraft Heinz were worth $1,598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of KHC. Shell Asset Management Co. raised its position in Kraft Heinz by 89.7% in the 2nd quarter. Shell Asset Management Co. now owns 90,450 shares of the company’s stock valued at $2,335,000 after buying an additional 42,758 shares during the last quarter. Fairfax Financial Holdings Ltd. Can grew its stake in shares of Kraft Heinz by 45.4% during the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock worth $126,056,000 after acquiring an additional 1,525,000 shares in the last quarter. Lakeshore Capital Group Inc. raised its holdings in shares of Kraft Heinz by 39.8% in the second quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company’s stock valued at $957,000 after purchasing an additional 10,551 shares during the last quarter. Swedbank AB lifted its position in shares of Kraft Heinz by 13.6% in the first quarter. Swedbank AB now owns 878,684 shares of the company’s stock worth $26,738,000 after purchasing an additional 104,872 shares in the last quarter. Finally, Bard Financial Services Inc. boosted its holdings in Kraft Heinz by 24.5% during the second quarter. Bard Financial Services Inc. now owns 104,225 shares of the company’s stock worth $2,691,000 after purchasing an additional 20,500 shares during the last quarter. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Price Performance

NASDAQ:KHC opened at $23.69 on Wednesday. The company has a market cap of $28.04 billion, a P/E ratio of -6.35 and a beta of 0.09. The firm’s fifty day moving average price is $24.83 and its two-hundred day moving average price is $26.09. Kraft Heinz Company has a one year low of $23.60 and a one year high of $33.35. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.73.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. The business had revenue of $6.39 billion during the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. Equities analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.8%. Kraft Heinz’s dividend payout ratio (DPR) is currently -42.90%.

Wall Street Analyst Weigh In

KHC has been the topic of several recent research reports. UBS Group lowered their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Jefferies Financial Group reaffirmed a “hold” rating on shares of Kraft Heinz in a research report on Tuesday, December 16th. Mizuho dropped their target price on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday, October 28th. Evercore ISI decreased their price target on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $26.63.

Insider Activity

In related news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the transaction, the insider directly owned 686,817 shares in the company, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.35% of the company’s stock.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.