Allianz Asset Management GmbH Sells 24,007 Shares of Kraft Heinz Company $KHC

Key Points

• Allianz Asset Management GmbH sold 24,007 shares of Kraft Heinz Company, reducing its holdings by 19% to 102,624 shares, valued at approximately $2.65 million.
• Kraft Heinz reported a negative net margin of 20.83% for the last quarter, with earnings per share at $0.72 and revenue of $6.39 billion.
• Analysts have recently cut their price targets for Kraft Heinz, with the consensus target now at $28.65 and a prevailing "Reduce" rating among analysts.

Allianz Asset Management GmbH decreased its holdings in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 19.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 102,624 shares of the company's stock after selling 24,007 shares during the period. Allianz Asset Management GmbH's holdings in Kraft Heinz were worth $2,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in KHC. GAMMA Investing LLC increased its stake in shares of Kraft Heinz by 28.1% during the first quarter. GAMMA Investing LLC now owns 15,794 shares of the company's stock valued at $481,000 after purchasing an additional 3,468 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Kraft Heinz by 0.6% during the first quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company's stock valued at $2,101,000 after purchasing an additional 397 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Kraft Heinz by 115.5% during the first quarter. Golden State Wealth Management LLC now owns 1,554 shares of the company's stock valued at $47,000 after purchasing an additional 833 shares in the last quarter. HBK Sorce Advisory LLC increased its stake in shares of Kraft Heinz by 7.9% during the first quarter. HBK Sorce Advisory LLC now owns 8,567 shares of the company's stock valued at $261,000 after purchasing an additional 630 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Kraft Heinz by 5.6% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,455,036 shares of the company's stock valued at $44,277,000 after purchasing an additional 77,110 shares in the last quarter. Institutional investors own 78.17% of the company's stock.

Kraft Heinz Trading Down 0.6%

Shares of KHC stock opened at $25.25 on Friday. Kraft Heinz Company has a 12-month low of $24.80 and a 12-month high of $35.17. The company has a current ratio of 1.07, a quick ratio of 0.66 and a debt-to-equity ratio of 0.47. The firm's 50 day moving average is $26.33 and its 200 day moving average is $27.13. The stock has a market capitalization of $29.89 billion, a P/E ratio of -5.62, a P/E/G ratio of 2.98 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its earnings results on Friday, July 8th. The company reported $0.72 earnings per share (EPS) for the quarter. Kraft Heinz had a negative net margin of 20.83% and a positive return on equity of 7.40%. The company had revenue of $6.39 billion for the quarter. Research analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, August 29th were issued a $0.40 dividend. The ex-dividend date was Friday, August 29th. This represents a $1.60 annualized dividend and a yield of 6.3%. Kraft Heinz's dividend payout ratio (DPR) is currently -35.63%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Barclays decreased their target price on shares of Kraft Heinz from $29.00 to $26.00 and set an "equal weight" rating for the company in a research note on Friday, October 10th. Jefferies Financial Group cut their price target on shares of Kraft Heinz from $28.00 to $24.00 and set a "hold" rating on the stock in a report on Wednesday, October 15th. UBS Group cut their price target on shares of Kraft Heinz from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Wednesday, October 8th. Morgan Stanley cut their price target on shares of Kraft Heinz from $29.00 to $28.00 in a report on Thursday, October 16th. Finally, Wells Fargo & Company cut their price target on shares of Kraft Heinz from $29.00 to $27.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 3rd. One equities research 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's stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $28.65.

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.

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