Assenagon Asset Management S.A. Sells 210,002 Shares of Kraft Heinz Company $KHC

Assenagon Asset Management S.A. reduced its position in shares of Kraft Heinz Company (NASDAQ:KHC) by 69.1% in the 1st quarter, Holdings Channel reports. The firm owned 93,989 shares of the company’s stock after selling 210,002 shares during the period. Assenagon Asset Management S.A.’s holdings in Kraft Heinz were worth $2,114,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in KHC. Jessup Wealth Management Inc bought a new position in shares of Kraft Heinz in the 4th quarter valued at $27,000. Reflection Asset Management acquired a new position in shares of Kraft Heinz during the 4th quarter worth $28,000. Key Capital Management INC bought a new position in shares of Kraft Heinz in the fourth quarter worth about $29,000. DV Equities LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at approximately $29,000. Finally, New England Capital Financial Advisors LLC boosted its stake in shares of Kraft Heinz by 70.2% in the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company’s stock valued at $30,000 after purchasing an additional 511 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Price Performance

Shares of NASDAQ KHC opened at $23.62 on Wednesday. The firm’s 50-day moving average price is $23.20 and its 200-day moving average price is $23.44. Kraft Heinz Company has a 1-year low of $21.03 and a 1-year high of $29.19. The firm has a market capitalization of $28.01 billion, a P/E ratio of -4.86 and a beta of 0.08. The company has a current ratio of 1.20, a quick ratio of 0.82 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 6th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 23.05%.The company had revenue of $6.05 billion during the quarter, compared to the consensus estimate of $5.89 billion. During the same period last year, the business posted $0.62 EPS. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. Equities research analysts anticipate that Kraft Heinz Company will post 2.07 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, June 5th. This represents a $1.60 annualized dividend and a yield of 6.8%. Kraft Heinz’s dividend payout ratio is presently -32.92%.

Insider Activity

In other news, insider Diana Frost sold 18,502 shares of the business’s stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $23.05, for a total transaction of $426,471.10. Following the completion of the sale, the insider directly owned 102,667 shares of the company’s stock, valued at $2,366,474.35. The trade was a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

KHC has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Kraft Heinz from $25.00 to $23.00 and set an “equal weight” rating for the company in a research report on Thursday, March 12th. TD Cowen lowered their target price on Kraft Heinz from $24.00 to $20.00 and set a “hold” rating for the company in a report on Wednesday, March 25th. Sanford C. Bernstein lowered Kraft Heinz from a “market perform” rating to an “underperform” rating and cut their price target for the company from $25.00 to $21.00 in a research note on Wednesday, June 3rd. JPMorgan Chase & Co. reduced their price target on Kraft Heinz from $22.00 to $21.00 and set an “underweight” rating on the stock in a report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Kraft Heinz from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $22.88.

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.