Citigroup Reiterates Sell Rating for Kraft Heinz (NASDAQ:KHC)

Citigroup reiterated their sell rating on shares of Kraft Heinz (NASDAQ:KHC) in a research report sent to investors on Friday, MarketBeat.com reports. The brokerage currently has a $27.00 price objective on the stock, down from their previous price objective of $28.00.

A number of other equities research analysts have also weighed in on the company. Mizuho lowered Kraft Heinz from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $38.00 to $31.00 in a research note on Monday, February 10th. Wells Fargo & Company dropped their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research note on Thursday, February 13th. UBS Group decreased their target price 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. JPMorgan Chase & Co. dropped their price target on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Piper Sandler decreased their price objective on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $30.67.

Kraft Heinz Price Performance

KHC opened at $29.68 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $35.42 billion, a P/E ratio of 13.13, a PEG ratio of 3.39 and a beta of 0.44. The stock has a 50-day moving average price of $30.09 and a 200-day moving average price of $31.56. Kraft Heinz has a 12-month low of $27.25 and a 12-month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Equities analysts predict that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were issued a $0.40 dividend. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.39%. Kraft Heinz’s dividend payout ratio (DPR) is 70.80%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Brookstone Capital Management boosted its position in shares of Kraft Heinz by 229.8% in the 4th quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock worth $10,530,000 after purchasing an additional 238,913 shares in the last quarter. Toronto Dominion Bank boosted its holdings in Kraft Heinz by 12.6% in the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock worth $17,132,000 after acquiring an additional 54,656 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after acquiring an additional 1,238,200 shares during the last quarter. FLC Capital Advisors increased its holdings in shares of Kraft Heinz by 121.0% during the fourth quarter. FLC Capital Advisors now owns 18,653 shares of the company’s stock valued at $573,000 after acquiring an additional 10,214 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Kraft Heinz in the 4th quarter worth about $2,048,000. 78.17% of the stock is currently owned by institutional investors.

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.