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

The Kraft Heinz Company (NASDAQ:KHC) announced a quarterly dividend on Wednesday, October 30th, RTT News reports. Shareholders of record on Friday, November 29th will be paid a dividend of 0.40 per share on Friday, December 27th. This represents a $1.60 annualized dividend and a dividend yield of 4.78%.

Kraft Heinz has a payout ratio of 50.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

NASDAQ KHC traded down $1.30 on Wednesday, hitting $33.50. The stock had a trading volume of 1,842,878 shares, compared to its average volume of 7,715,272. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. The firm has a 50-day moving average of $35.27 and a 200-day moving average of $34.87. Kraft Heinz has a 52-week low of $31.08 and a 52-week high of $38.96. The company has a market capitalization of $40.68 billion, a price-to-earnings ratio of 15.20, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The company had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same period in the previous year, the company posted $0.79 earnings per share. The firm’s revenue was down 3.3% on a year-over-year basis. Equities analysts expect that Kraft Heinz will post 3.01 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on KHC. JPMorgan Chase & Co. cut their price target on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Barclays increased their target price on Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Citigroup reduced their target price on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Bank of America decreased 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. Finally, The Goldman Sachs Group initiated coverage on Kraft Heinz in a research note on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $37.58.

Insider Buying and Selling at Kraft Heinz

In other news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the transaction, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by insiders.

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.