Kraft Heinz (NASDAQ:KHC) PT Lowered to $41.00

Kraft Heinz (NASDAQ:KHC) had its target price cut by Piper Sandler from $42.00 to $41.00 in a research note released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lifted their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Bank of America lifted their price target on Kraft Heinz from $40.00 to $42.00 and gave the stock a buy rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Kraft Heinz presently has an average rating of Moderate Buy and a consensus target price of $40.00.

Kraft Heinz Price Performance

NASDAQ KHC opened at $32.95 on Thursday. The business’s fifty day moving average price is $35.62 and its 200-day moving average price is $36.17. The stock has a market capitalization of $40.01 billion, a price-to-earnings ratio of 14.39, a PEG ratio of 2.63 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61. Kraft Heinz has a 1-year low of $30.68 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The business’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. On average, equities analysts predict that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.86%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s dividend payout ratio is presently 69.87%.

Insider Activity

In other news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the sale, the insider now owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

A number of large investors have recently bought and sold shares of KHC. Capital World Investors raised its stake in Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares in the last quarter. AQR Capital Management LLC grew its holdings in Kraft Heinz by 86.0% in the third quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after purchasing an additional 2,140,153 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Kraft Heinz by 346.9% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after purchasing an additional 1,179,863 shares during the last quarter. Nordea Investment Management AB grew its holdings in Kraft Heinz by 56.7% in the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after purchasing an additional 1,027,636 shares during the last quarter. Finally, Morgan Stanley grew its holdings in Kraft Heinz by 7.2% in the third quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock worth $423,216,000 after purchasing an additional 850,326 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

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.