Royal London Asset Management Ltd. Has $63.03 Million Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Royal London Asset Management Ltd. lessened its position in The Kraft Heinz Company (NASDAQ:KHC) by 1.4% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,795,273 shares of the company’s stock after selling 24,886 shares during the period. Royal London Asset Management Ltd. owned approximately 0.15% of Kraft Heinz worth $63,032,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Petrus Trust Company LTA grew its position in shares of Kraft Heinz by 8.4% in the third quarter. Petrus Trust Company LTA now owns 20,630 shares of the company’s stock valued at $724,000 after purchasing an additional 1,595 shares in the last quarter. Penn Mutual Asset Management purchased a new position in shares of Kraft Heinz in the 3rd quarter worth about $211,000. Menard Financial Group LLC lifted its stake in shares of Kraft Heinz by 25.7% in the 3rd quarter. Menard Financial Group LLC now owns 10,924 shares of the company’s stock valued at $384,000 after acquiring an additional 2,232 shares during the last quarter. IHT Wealth Management LLC bought a new position in Kraft Heinz during the 3rd quarter valued at approximately $238,000. Finally, III Capital Management raised its position in shares of Kraft Heinz by 44.0% in the 3rd quarter. III Capital Management now owns 20,915 shares of the company’s stock worth $734,000 after acquiring an additional 6,391 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $30.91 on Friday. The Kraft Heinz Company has a 12-month low of $30.40 and a 12-month high of $38.96. The stock has a market cap of $37.38 billion, a P/E ratio of 27.85, a price-to-earnings-growth ratio of 3.59 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The company has a fifty day simple moving average of $33.49 and a 200-day simple moving average of $33.99.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the previous year, the business posted $0.72 earnings per share. The business’s revenue was down 2.8% compared to the same quarter last year. Equities analysts expect that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.18%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Insider Buying and Selling at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

KHC has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Piper Sandler reiterated a “neutral” rating and set a $35.00 target price (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Citigroup lowered their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Mizuho decreased their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research report on Thursday, October 31st. Finally, Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $38.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $36.55.

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.