Kraft Heinz (NASDAQ:KHC) Price Target Cut to $40.00 by Analysts at Piper Sandler

Kraft Heinz (NASDAQ:KHC) had its target price reduced by Piper Sandler from $41.00 to $40.00 in a research report released on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Barclays boosted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $39.00 to $35.00 in a research report on Thursday. Mizuho lowered their price objective on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday. Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Finally, Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $37.23.

Kraft Heinz Stock Up 0.3 %

Shares of KHC traded up $0.10 on Thursday, reaching $33.56. The stock had a trading volume of 1,471,290 shares, compared to its average volume of 7,756,291. Kraft Heinz has a 12-month low of $31.58 and a 12-month high of $38.96. The company has a 50-day simple moving average of $35.20 and a 200-day simple moving average of $34.85. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.53 and a current ratio of 1.06. The firm has a market capitalization of $40.58 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 3.30 and a beta of 0.49.

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

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.77%. Kraft Heinz’s payout ratio is 144.14%.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors have recently bought and sold shares of the company. MADDEN SECURITIES Corp increased its position in shares of Kraft Heinz by 2.4% in the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after buying an additional 303 shares in the last quarter. HB Wealth Management LLC boosted its position in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after purchasing an additional 314 shares during the period. Axiom Advisory LLC increased its position in shares of Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after purchasing an additional 327 shares during the period. Lorne Steinberg Wealth Management Inc. increased its holdings in shares of Kraft Heinz by 0.3% in the first quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock valued at $4,044,000 after buying an additional 335 shares in the last quarter. Finally, Norden Group LLC lifted its holdings in shares of Kraft Heinz by 3.8% in the second quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after purchasing an additional 339 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

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.