Tyche Wealth Partners LLC Sells 2,032 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Tyche Wealth Partners LLC cut its stake in The Kraft Heinz Company (NASDAQ:KHC) by 21.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,331 shares of the company’s stock after selling 2,032 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Kraft Heinz were worth $236,000 as of its most recent SEC filing.

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

Kraft Heinz Stock Up 1.3 %

Shares of NASDAQ KHC traded up $0.43 during mid-day trading on Friday, reaching $34.62. 11,470,384 shares of the company’s stock traded hands, compared to its average volume of 8,053,112. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.61. The Kraft Heinz Company has a 1-year low of $30.68 and a 1-year high of $38.96. The stock has a market cap of $42.04 billion, a P/E ratio of 15.12, a PEG ratio of 3.52 and a beta of 0.53. The business has a 50-day simple moving average of $33.29 and a 200 day simple moving average of $35.13.

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

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.62%. Kraft Heinz’s payout ratio is currently 69.87%.

Insider Buying and Selling

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the transaction, the insider now owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. The Goldman Sachs Group initiated coverage on Kraft Heinz in a research report on Monday, August 12th. They set a “sell” rating and a $34.00 target price for the company. Piper Sandler reduced their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating on the stock in a research note on Thursday, June 20th. Citigroup dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. JPMorgan Chase & Co. reduced 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 report on Wednesday, July 31st. Finally, Bank of America lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.31.

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.