Seven Eight Capital LP Purchases New Holdings in The Kraft Heinz Company (NASDAQ:KHC)

Seven Eight Capital LP acquired a new stake in shares of The Kraft Heinz Company (NASDAQ:KHC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 37,986 shares of the company’s stock, valued at approximately $1,224,000.

A number of other hedge funds also recently added to or reduced their stakes in KHC. Steward Partners Investment Solutions LLC acquired a new stake in shares of Kraft Heinz during the fourth quarter worth $25,000. New Covenant Trust Company N.A. purchased a new position in Kraft Heinz during the 1st quarter worth $27,000. Asset Dedication LLC lifted its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after acquiring an additional 476 shares during the period. Hantz Financial Services Inc. purchased a new stake in shares of Kraft Heinz in the second quarter valued at about $34,000. Finally, Valley Wealth Managers Inc. increased its stake in shares of Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock worth $35,000 after acquiring an additional 340 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have weighed in on KHC. Citigroup lowered their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 17th. Evercore ISI dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Piper Sandler cut their price objective on Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. 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 research report on Wednesday, July 31st. Finally, The Goldman Sachs Group began coverage on shares of Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price objective for the company. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.50.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of Kraft Heinz 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 sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.32% of the stock is owned by insiders.

Kraft Heinz Stock Down 0.4 %

KHC stock opened at $34.99 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. The company’s 50 day simple moving average is $34.74 and its 200-day simple moving average is $35.05. The Kraft Heinz Company has a 12 month low of $30.68 and a 12 month high of $38.96. The firm has a market capitalization of $42.49 billion, a PE ratio of 15.28, a P/E/G ratio of 3.43 and a beta of 0.49.

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

Kraft Heinz Announces Dividend

The company 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 $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

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.