Kraft Heinz (NASDAQ:KHC) Reaches New 52-Week Low – Here’s What Happened

The Kraft Heinz Company (NASDAQ:KHC)’s stock price reached a new 52-week low during mid-day trading on Friday . The company traded as low as $30.98 and last traded at $31.13, with a volume of 1235656 shares changing hands. The stock had previously closed at $31.79.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on KHC shares. Evercore ISI decreased their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Wednesday, July 31st. Mizuho lowered their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Citigroup dropped their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Piper Sandler reduced their price objective on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the company from $40.00 to $38.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $37.00.

Kraft Heinz Stock Performance

The firm has a market capitalization of $37.15 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 3.67 and a beta of 0.49. The firm’s 50-day moving average price is $34.62 and its two-hundred day moving average price is $34.52. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 earnings per share. Sell-side analysts predict that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.21%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

Insider Buying and Selling

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. IHT Wealth Management LLC acquired a new stake in Kraft Heinz during the 3rd quarter valued at $238,000. III Capital Management increased its stake in shares of Kraft Heinz by 44.0% in the third quarter. III Capital Management now owns 20,915 shares of the company’s stock valued at $734,000 after buying an additional 6,391 shares in the last quarter. Ingalls & Snyder LLC raised its holdings in shares of Kraft Heinz by 248.1% in the third quarter. Ingalls & Snyder LLC now owns 320,949 shares of the company’s stock valued at $11,269,000 after buying an additional 228,760 shares during the last quarter. Ilex Capital Partners UK LLP acquired a new position in Kraft Heinz during the 3rd quarter worth about $28,374,000. Finally, Integrated Wealth Concepts LLC grew its holdings in Kraft Heinz by 72.0% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 42,941 shares of the company’s stock worth $1,508,000 after acquiring an additional 17,973 shares during the last quarter. Institutional investors own 78.17% 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.