Envestnet Asset Management Inc. Sells 407,725 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Envestnet Asset Management Inc. reduced its stake in shares of The Kraft Heinz Company (NASDAQ:KHC) by 25.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,181,913 shares of the company’s stock after selling 407,725 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Kraft Heinz worth $38,081,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. TCW Group Inc. bought a new stake in shares of Kraft Heinz during the fourth quarter worth $1,098,000. Shell Asset Management Co. increased its stake in Kraft Heinz by 251.3% in the 4th quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock valued at $1,251,000 after buying an additional 24,199 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Kraft Heinz by 120.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after acquiring an additional 75,149 shares in the last quarter. Bridgewater Associates LP grew its stake in shares of Kraft Heinz by 7.7% in the fourth quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after buying an additional 118,260 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its stake in Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after purchasing an additional 234,783 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now owns 143,970 shares in the company, valued at $5,182,920. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Kraft Heinz Price Performance

KHC stock opened at $34.99 on Friday. The company’s fifty day moving average price is $34.74 and its 200-day moving average price is $35.05. The Kraft Heinz Company has a one year low of $30.68 and a one year high of $38.96. The company has a market capitalization of $42.49 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. The company had revenue of $6.50 billion during the quarter, compared to analysts’ expectations 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 was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.79 EPS. On average, equities analysts anticipate that The Kraft Heinz Company will post 3.02 EPS for the current fiscal 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 dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.57%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on KHC. Barclays boosted their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft dropped their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Bank of America cut their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Evercore ISI dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. cut their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $37.50.

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.