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

The Kraft Heinz Company (NASDAQ:KHC) announced a quarterly dividend on Wednesday, October 30th,RTT News reports. Investors 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 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date is Friday, November 29th.

Kraft Heinz has a payout ratio of 52.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kraft Heinz to earn $3.07 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 52.1%.

Kraft Heinz Trading Down 0.1 %

NASDAQ:KHC opened at $31.93 on Thursday. Kraft Heinz has a 1-year low of $30.40 and a 1-year high of $38.96. The stock has a fifty day simple moving average of $33.89 and a 200 day simple moving average of $34.17. 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 firm has a market capitalization of $38.61 billion, a price-to-earnings ratio of 28.77, a price-to-earnings-growth ratio of 3.66 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 5.24% and a return on equity of 7.46%. The company’s revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.72 EPS. Sell-side analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on KHC shares. JPMorgan Chase & Co. reduced their price objective on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. 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. Wells Fargo & Company boosted 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 report on Thursday, August 1st. The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the stock 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, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $36.55.

Insiders Place Their Bets

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. The trade was a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.37% 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.