Assenagon Asset Management S.A. Has $2.11 Million Holdings in Kraft Heinz Company $KHC

Key Points

• Assenagon Asset Management cut its Kraft Heinz stake by 69.1% in the first quarter, leaving it with 93,989 shares valued at about $2.11 million.
• Kraft Heinz reported better-than-expected quarterly earnings, posting $0.58 EPS on $6.05 billion in revenue versus estimates of $0.50 EPS and $5.89 billion in revenue.
• The company paid a quarterly dividend of $0.40 per share, equal to an annualized yield of 6.8%, while analysts remain cautious with an average rating of “Reduce” and a target price of $22.88.

Assenagon Asset Management S.A. trimmed its position in Kraft Heinz Company (NASDAQ:KHC - Free Report) by 69.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 quarter.

Other large investors have also recently bought and sold shares of the company. Schroder Investment Management Group increased its position in shares of Kraft Heinz by 2.4% during the third quarter. Schroder Investment Management Group now owns 3,263,971 shares of the company's stock worth $84,994,000 after acquiring an additional 77,045 shares in the last quarter. Vanguard Group Inc. increased its holdings in Kraft Heinz by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 102,933,219 shares of the company's stock worth $2,496,131,000 after purchasing an additional 616,283 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Kraft Heinz by 37.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,986,084 shares of the company's stock valued at $51,717,000 after purchasing an additional 540,532 shares during the period. Swiss Life Asset Management Ltd grew its holdings in shares of Kraft Heinz by 148.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 2,168,874 shares of the company's stock worth $52,595,000 after buying an additional 1,295,688 shares in the last quarter. Finally, Westhampton Capital LLC acquired a new stake in Kraft Heinz in the 4th quarter valued at approximately $1,222,000. Institutional investors own 78.17% of the company's stock.

Insider Activity

In related news, insider Diana Frost sold 18,502 shares of the company's stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $23.05, for a total value of $426,471.10. Following the transaction, the insider directly owned 102,667 shares in the company, valued at approximately $2,366,474.35. This represents a 15.27% 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 0.24% of the company's stock.

Kraft Heinz Trading Down 2.4%

Shares of Kraft Heinz stock opened at $23.62 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.20 and a quick ratio of 0.82. The business has a fifty day simple moving average of $23.20 and a two-hundred day simple moving average of $23.44. Kraft Heinz Company has a 1 year low of $21.03 and a 1 year high of $29.19. The company has a market capitalization of $28.01 billion, a price-to-earnings ratio of -4.86 and a beta of 0.08.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.50 by $0.08. The firm had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $5.89 billion. Kraft Heinz had a negative net margin of 23.05% and a positive return on equity of 7.26%. The company's quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. Research analysts forecast that Kraft Heinz Company will post 2.07 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, June 5th. Kraft Heinz's dividend payout ratio (DPR) is presently -32.92%.

Analyst Ratings Changes

KHC has been the topic of several research reports. Zacks Research upgraded Kraft Heinz from a "strong sell" rating to a "hold" rating in a research note on Tuesday, April 21st. Morgan Stanley set a $22.00 price objective on shares of Kraft Heinz in a research note on Thursday, April 23rd. Jefferies Financial Group dropped their target price on Kraft Heinz from $23.00 to $20.00 and set a "hold" rating on the stock in a report on Monday, March 30th. JPMorgan Chase & Co. reduced their price target on Kraft Heinz from $22.00 to $21.00 and set an "underweight" rating for the company in a research report on Wednesday, March 25th. Finally, TD Cowen decreased their price target on Kraft Heinz from $24.00 to $20.00 and set a "hold" rating for the company in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Hold rating and five have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average target price of $22.88.

About Kraft Heinz

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.

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