Kraft Heinz (NASDAQ:KHC) Hits New 12-Month Low – Here’s Why

The Kraft Heinz Company (NASDAQ:KHC) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $30.09 and last traded at $30.58, with a volume of 2527673 shares trading hands. The stock had previously closed at $31.25.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on KHC shares. Barclays cut their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. Citigroup lowered their target price on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Finally, Piper Sandler reissued a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Stock Performance

The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The stock has a market cap of $36.89 billion, a price-to-earnings ratio of 28.15, a price-to-earnings-growth ratio of 3.57 and a beta of 0.48. The company’s 50-day simple moving average is $32.95 and its 200-day simple moving average is $33.74.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same quarter last year, the business posted $0.72 EPS. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. Analysts predict that The Kraft Heinz Company will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.24%. Kraft Heinz’s dividend payout ratio is 144.14%.

Insider Activity at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is owned by insiders.

Institutional Trading of Kraft Heinz

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KHC. Fortitude Family Office LLC grew its position in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in Kraft Heinz in the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. boosted its holdings in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after purchasing an additional 797 shares in the last quarter. Asset Dedication LLC boosted its stake in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after buying an additional 476 shares in the last quarter. Finally, Bangor Savings Bank bought a new stake in Kraft Heinz during the third quarter worth about $32,000. Institutional investors and hedge funds 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.