Assenagon Asset Management S.A. Boosts Stake in The Kraft Heinz Company (NASDAQ:KHC)

Assenagon Asset Management S.A. increased its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 1,139.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 1,273,579 shares of the company’s stock after buying an additional 1,170,814 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Kraft Heinz were worth $39,112,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of KHC. Fortitude Family Office LLC grew its position in Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz during the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares during the period. Bangor Savings Bank bought a new stake in Kraft Heinz during the third quarter valued at approximately $32,000. Finally, Capital Performance Advisors LLP bought a new position in Kraft Heinz in the third quarter worth approximately $33,000. Institutional investors own 78.17% of the company’s stock.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Kraft Heinz Price Performance

Shares of KHC stock opened at $28.97 on Friday. The stock has a 50 day moving average price of $30.95 and a 200 day moving average price of $33.25. The firm has a market capitalization of $35.03 billion, a P/E ratio of 26.10, a P/E/G ratio of 3.29 and a beta of 0.48. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The Kraft Heinz Company has a 52-week low of $28.37 and a 52-week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.72 EPS. As a group, sell-side analysts predict that The Kraft Heinz Company will post 3 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.52%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on KHC. Evercore ISI reiterated an “in-line” rating and set a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Barclays cut their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company dropped their price objective on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. TD Cowen lowered their price target on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and an average price target of $35.23.

Kraft Heinz 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.