Kraft Heinz (NASDAQ:KHC) Rating Lowered to Hold at Stifel Nicolaus

Stifel Nicolaus cut shares of Kraft Heinz (NASDAQ:KHC) from a buy rating to a hold rating in a report published on Friday morning, MarketBeat Ratings reports. Stifel Nicolaus currently has $38.00 price target on the stock, down from their prior price target of $40.00.

KHC has been the subject of several other research reports. Barclays increased their price objective on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Wells Fargo & Company raised their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group initiated coverage on Kraft Heinz in a report on Monday, August 12th. They set a “sell” rating and a $34.00 price target for the company. Finally, Citigroup cut their price target on Kraft Heinz from $41.00 to $39.00 and set a “buy” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $37.58.

Kraft Heinz Trading Down 0.8 %

NASDAQ KHC opened at $34.74 on Friday. The company has a market cap of $42.00 billion, a PE ratio of 22.27, a PEG ratio of 3.48 and a beta of 0.49. The company has a current ratio of 1.01, a quick ratio of 0.53 and a debt-to-equity ratio of 0.39. Kraft Heinz has a 12 month low of $31.08 and a 12 month high of $38.96. The stock has a 50 day moving average of $35.29 and a 200-day moving average of $34.88.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.73 by $0.05. The company had revenue of $6.50 billion during the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. On average, equities research analysts anticipate that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, August 30th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.61%. The ex-dividend date of this dividend was Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 102.56%.

Insider Transactions at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction on Friday, August 2nd. The stock was 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 owns 143,970 shares of the company’s stock, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Fortitude Family Office LLC increased its position in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Kraft Heinz in the first quarter worth $27,000. DiNuzzo Private Wealth Inc. increased its position in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares during the period. Asset Dedication LLC increased its position in shares of Kraft Heinz by 94.8% in the second quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the period. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz in the third quarter worth $32,000. 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.