Wells Fargo & Company Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $30.00

Kraft Heinz (NASDAQ:KHC) had its target price cut by Wells Fargo & Company from $31.00 to $30.00 in a research note published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research analysts have also issued reports on KHC. Piper Sandler restated a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Jefferies Financial Group cut their price target on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Mizuho lowered shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and cut their price target for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Barclays cut their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, UBS Group cut their price target on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and an average target price of $30.86.

Kraft Heinz Trading Down 1.1 %

NASDAQ KHC opened at $28.92 on Thursday. 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 cap of $34.97 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 3.74 and a beta of 0.47. The company has a 50 day moving average price of $29.90 and a 200 day moving average price of $32.74. Kraft Heinz has a 52 week low of $27.25 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. As a group, sell-side analysts forecast that Kraft Heinz will post 3 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Institutional Trading of Kraft Heinz

Hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC boosted its holdings 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 purchased a new position in Kraft Heinz during the third quarter valued at $27,000. Sawyer & Company Inc purchased a new position in Kraft Heinz during the fourth quarter valued at $25,000. Generali Investments Management Co LLC purchased a new position in Kraft Heinz during the fourth quarter valued at $26,000. Finally, DiNuzzo Private Wealth Inc. lifted 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. 78.17% of the stock is owned by hedge funds and other institutional investors.

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.