Allianz Asset Management GmbH Trims Stock Holdings in Kraft Heinz Company (NASDAQ:KHC)

Allianz Asset Management GmbH lowered its position in shares of Kraft Heinz Company (NASDAQ:KHC - Free Report) by 85.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 126,631 shares of the company's stock after selling 761,439 shares during the quarter. Allianz Asset Management GmbH's holdings in Kraft Heinz were worth $3,853,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Klingenstein Fields & Co. LP increased its position in shares of Kraft Heinz by 4.6% during the 1st quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company's stock worth $239,000 after purchasing an additional 344 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC grew its holdings in Kraft Heinz by 4.0% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock worth $307,000 after acquiring an additional 386 shares during the last quarter. Johnson Investment Counsel Inc. grew its holdings in Kraft Heinz by 1.6% during the 1st quarter. Johnson Investment Counsel Inc. now owns 25,596 shares of the company's stock worth $779,000 after acquiring an additional 397 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Kraft Heinz by 0.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company's stock worth $2,101,000 after acquiring an additional 397 shares during the last quarter. Finally, Rehmann Capital Advisory Group grew its holdings in Kraft Heinz by 3.0% during the 4th quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company's stock worth $427,000 after acquiring an additional 408 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company's stock.

Kraft Heinz Stock Performance

KHC traded up $0.31 during trading hours on Tuesday, hitting $28.56. The stock had a trading volume of 13,995,991 shares, compared to its average volume of 17,312,326. The company's fifty day simple moving average is $26.77 and its 200 day simple moving average is $28.55. Kraft Heinz Company has a 1 year low of $25.44 and a 1 year high of $36.53. The stock has a market cap of $33.80 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 3.31 and a beta of 0.25. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the firm earned $0.69 EPS. The company's quarterly revenue was down 6.4% compared to the same quarter last year. Equities analysts anticipate that Kraft Heinz Company will post 2.68 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KHC. The Goldman Sachs Group raised shares of Kraft Heinz from a "sell" rating to a "neutral" rating and raised their target price for the company from $25.00 to $27.00 in a research note on Wednesday, June 25th. Wells Fargo & Company raised their target price on shares of Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research note on Monday, July 14th. Cfra Research lowered shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Citigroup reissued a "sell" rating and set a $27.00 price objective (down previously from $28.00) on shares of Kraft Heinz in a research note on Friday, April 4th. Finally, Stifel Nicolaus reduced their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.29.

Insiders Place Their Bets

In related news, Director Elio Leoni Sceti sold 25,000 shares of the business's stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the completion of the sale, the director owned 40,000 shares in the company, valued at $1,116,400. The trade was a 38.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.35% of the stock is owned by insiders.

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.