Tyche Wealth Partners LLC Invests $347,000 in The Kraft Heinz Company (NASDAQ:KHC)

Tyche Wealth Partners LLC purchased a new position in shares of The Kraft Heinz Company (NASDAQ:KHC) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,386 shares of the company’s stock, valued at approximately $347,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Avior Wealth Management LLC increased its stake in shares of Kraft Heinz by 26.9% during the fourth quarter. Avior Wealth Management LLC now owns 26,511 shares of the company’s stock worth $980,000 after acquiring an additional 5,625 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Kraft Heinz by 113.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 319,802 shares of the company’s stock worth $11,826,000 after buying an additional 169,858 shares during the period. Lipe & Dalton grew its position in Kraft Heinz by 0.3% during the fourth quarter. Lipe & Dalton now owns 155,306 shares of the company’s stock worth $5,743,000 after buying an additional 400 shares during the period. Desjardins Global Asset Management Inc. grew its position in Kraft Heinz by 7.2% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 73,123 shares of the company’s stock worth $2,704,000 after buying an additional 4,926 shares during the period. Finally, SVB Wealth LLC grew its position in Kraft Heinz by 18.0% during the fourth quarter. SVB Wealth LLC now owns 52,373 shares of the company’s stock worth $1,937,000 after buying an additional 7,986 shares during the period. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on KHC. Wells Fargo & Company lowered their target price on shares of Kraft Heinz from $38.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. Bank of America upped their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Citigroup assumed coverage on shares of Kraft Heinz in a research report on Thursday, February 1st. They set a “buy” rating and a $43.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $40.71.

Kraft Heinz Stock Performance

Shares of KHC opened at $36.90 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The company has a market capitalization of $44.86 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 2.89 and a beta of 0.67. The company’s 50 day simple moving average is $35.86 and its 200 day simple moving average is $35.34. The Kraft Heinz Company has a 1 year low of $30.68 and a 1 year high of $41.47.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.99 billion. Kraft Heinz had a net margin of 10.72% and a return on equity of 7.42%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.85 earnings per share. On average, sell-side analysts predict that The Kraft Heinz Company will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.34%. The ex-dividend date of this dividend was Thursday, March 7th. Kraft Heinz’s payout ratio is 69.26%.

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.