The Kraft Heinz Company (NASDAQ:KHC) Stock Holdings Trimmed by Royal London Asset Management Ltd.

Royal London Asset Management Ltd. lessened its holdings in shares of The Kraft Heinz Company (NASDAQ:KHC) by 11.6% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,820,159 shares of the company’s stock after selling 238,344 shares during the quarter. Royal London Asset Management Ltd. owned about 0.15% of Kraft Heinz worth $58,646,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter valued at approximately $25,000. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the 1st quarter worth about $27,000. Asset Dedication LLC increased its holdings in Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after buying an additional 476 shares during the last quarter. Hantz Financial Services Inc. bought a new position in Kraft Heinz during the second quarter valued at approximately $34,000. Finally, Transcendent Capital Group LLC acquired a new stake in Kraft Heinz in the fourth quarter valued at approximately $38,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Down 1.5 %

Shares of KHC opened at $35.52 on Wednesday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The company has a 50-day simple moving average of $34.29 and a 200-day simple moving average of $35.05. The Kraft Heinz Company has a 52 week low of $30.68 and a 52 week high of $38.96. The firm has a market capitalization of $42.95 billion, a P/E ratio of 15.51, a P/E/G ratio of 3.49 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. Kraft Heinz’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.79 EPS. On average, equities research analysts expect that The Kraft Heinz Company will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.50%. Kraft Heinz’s payout ratio is currently 69.87%.

Insider Buying and Selling

In other news, insider Cory Onell sold 4,076 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.32% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on KHC. JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company upped their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft decreased their target price on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Citigroup dropped their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average price target of $37.31.

About Kraft Heinz

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.