Tyche Wealth Partners LLC Sells 355 Shares of The Kraft Heinz Company (NASDAQ:KHC)

Tyche Wealth Partners LLC cut its holdings in The Kraft Heinz Company (NASDAQ:KHC) by 4.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,976 shares of the company’s stock after selling 355 shares during the period. Tyche Wealth Partners LLC’s holdings in Kraft Heinz were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Clifford Capital Partners LLC grew its position in shares of Kraft Heinz by 21.4% in the second quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock valued at $14,656,000 after purchasing an additional 80,101 shares in the last quarter. Lazard Asset Management LLC grew its holdings in Kraft Heinz by 13.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after buying an additional 234,783 shares in the last quarter. Smith Thornton Advisors LLC purchased a new position in Kraft Heinz during the 2nd quarter valued at about $654,000. MBB Public Markets I LLC bought a new stake in shares of Kraft Heinz during the second quarter valued at about $2,001,000. Finally, Sei Investments Co. lifted its holdings in shares of Kraft Heinz by 12.8% in the second quarter. Sei Investments Co. now owns 760,222 shares of the company’s stock worth $24,495,000 after buying an additional 86,311 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on KHC. JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Bank of America decreased 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. Barclays lifted their price objective on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft lowered their price target on Kraft Heinz from $43.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Citigroup cut their price objective on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $37.58.

Insider Activity

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz 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 transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Kraft Heinz Trading Down 0.9 %

Shares of KHC opened at $34.80 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 Kraft Heinz Company has a fifty-two week low of $31.08 and a fifty-two week high of $38.96. The firm has a 50 day moving average price of $35.27 and a 200-day moving average price of $34.87. The firm has a market cap of $42.26 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 3.48 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly 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. The business had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s revenue was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.79 earnings per share. As a group, equities research analysts forecast that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

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.