Kraft Heinz (NASDAQ:KHC) PT Lowered to $37.00 at JPMorgan Chase & Co.

Kraft Heinz (NASDAQ:KHC) had its price target cut by JPMorgan Chase & Co. from $38.00 to $37.00 in a report issued on Wednesday. They currently have a neutral rating on the stock.

Other research analysts also recently issued research reports about the stock. Piper Sandler dropped their target price on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating on the stock in a research note on Thursday, June 20th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Kraft Heinz from $43.00 to $39.00 and set a buy rating on the stock in a research note on Wednesday. Evercore ISI dropped their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an overweight rating on the stock in a research note on Wednesday. Citigroup lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Finally, Barclays lowered their price objective 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. Seven investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Kraft Heinz presently has an average rating of Hold and a consensus target price of $37.58.

Kraft Heinz Price Performance

Shares of KHC opened at $36.06 on Wednesday. The stock has a market cap of $43.60 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01. Kraft Heinz has a fifty-two week low of $30.68 and a fifty-two week high of $38.96. The firm’s 50-day simple moving average is $33.34 and its two-hundred day simple moving average is $35.31.

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

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.44%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Hedge funds and other institutional investors have recently modified their holdings of the company. Steward Partners Investment Solutions LLC purchased a new stake in shares of Kraft Heinz in the fourth quarter worth $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of Kraft Heinz in the first quarter worth $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Kraft Heinz in the fourth quarter worth $32,000. Hantz Financial Services Inc. purchased a new position in Kraft Heinz during the second quarter valued at $34,000. Finally, Transcendent Capital Group LLC purchased a new position in Kraft Heinz during the fourth quarter valued at $38,000. 78.17% of the stock is owned by hedge funds and other institutional investors.

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.