The Kraft Heinz Company (NASDAQ:KHC) to Issue Quarterly Dividend of $0.40

The Kraft Heinz Company (NASDAQ:KHC) declared a quarterly dividend on Wednesday, July 31st, RTT News reports. Stockholders of record on Friday, August 30th will be paid a dividend of 0.40 per share on Friday, September 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.73%.

Kraft Heinz has a payout ratio of 50.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kraft Heinz to earn $3.14 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 51.0%.

Kraft Heinz Stock Performance

Shares of KHC opened at $33.84 on Wednesday. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $38.96. The firm has a market capitalization of $41.09 billion, a PE ratio of 14.78, a P/E/G ratio of 3.35 and a beta of 0.53. The firm has a 50-day moving average price of $33.37 and a 200 day moving average price of $35.33. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business’s revenue was down 1.2% on a year-over-year basis. During the same period last year, the firm posted $0.68 earnings per share. On average, sell-side analysts anticipate that Kraft Heinz will post 2.99 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on KHC. Citigroup dropped their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, July 17th. Barclays dropped their price target on shares of Kraft Heinz from $36.00 to $34.00 and set an “equal weight” rating on the stock in a research report on Friday, July 19th. Piper Sandler reduced their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Wells Fargo & Company dropped their target price on shares of Kraft Heinz from $37.00 to $34.00 and set an “equal weight” rating on the stock in a report on Thursday, June 27th. Finally, Bank of America reduced their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $38.83.

Insiders Place Their Bets

In related news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the transaction, the insider now directly 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 can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Kraft Heinz Company 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.