Kraft Heinz (NASDAQ:KHC) Price Target Raised to $38.00

Kraft Heinz (NASDAQ:KHC) had its price target raised by Morgan Stanley from $37.00 to $38.00 in a research note published on Tuesday, The Fly reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities analysts have also issued reports about the stock. Guggenheim lowered shares of Kraft Heinz from a buy rating to a neutral rating and cut their price target for the stock from $46.00 to $33.00 in a report on Wednesday, December 8th. TheStreet raised shares of Kraft Heinz from a c rating to a b- rating in a report on Monday, November 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Hold and a consensus price target of $39.33.

Shares of KHC stock opened at $38.02 on Tuesday. The firm has a market cap of $46.54 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 2.88 and a beta of 1.07. The company’s 50 day moving average is $35.70 and its 200 day moving average is $36.87. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. Kraft Heinz has a 52-week low of $31.60 and a 52-week high of $44.95.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 27th. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.07. Kraft Heinz had a net margin of 8.76% and a return on equity of 7.21%. The business had revenue of $6.32 billion for the quarter, compared to analyst estimates of $6.08 billion. During the same period in the previous year, the company earned $0.70 earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Analysts anticipate that Kraft Heinz will post 2.79 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Stockholders of record on Friday, November 26th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, November 24th. This represents a $1.60 annualized dividend and a dividend yield of 4.21%. Kraft Heinz’s payout ratio is currently 85.56%.

In related news, major shareholder Global Food Holdings Lp 3G sold 30,596,465 shares of the business’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $35.75, for a total transaction of $1,093,823,623.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Lande Rashida La sold 20,000 shares of the business’s stock in a transaction on Tuesday, November 30th. The shares were sold at an average price of $33.77, for a total transaction of $675,400.00. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Several institutional investors have recently modified their holdings of the business. SRS Capital Advisors Inc. raised its position in shares of Kraft Heinz by 12.6% in the third quarter. SRS Capital Advisors Inc. now owns 2,421 shares of the company’s stock worth $89,000 after acquiring an additional 270 shares during the period. Community Bank & Trust Waco Texas raised its position in shares of Kraft Heinz by 2.2% in the third quarter. Community Bank & Trust Waco Texas now owns 12,851 shares of the company’s stock worth $473,000 after acquiring an additional 279 shares during the period. TownSquare Capital LLC raised its position in shares of Kraft Heinz by 4.4% in the third quarter. TownSquare Capital LLC now owns 6,976 shares of the company’s stock worth $257,000 after acquiring an additional 295 shares during the period. Allworth Financial LP raised its position in shares of Kraft Heinz by 3.7% in the third quarter. Allworth Financial LP now owns 8,809 shares of the company’s stock worth $324,000 after acquiring an additional 313 shares during the period. Finally, Seeyond raised its position in shares of Kraft Heinz by 0.5% in the second quarter. Seeyond now owns 70,619 shares of the company’s stock worth $2,879,000 after acquiring an additional 317 shares during the period. Institutional investors and hedge funds own 60.98% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.

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