Kraft Heinz (NASDAQ:KHC) had its target price decreased by BMO Capital Markets from $67.00 to $61.00 in a research report report published on Monday morning, The Fly reports. BMO Capital Markets currently has a market perform rating on the stock.
Other analysts also recently issued reports about the stock. BidaskClub downgraded shares of Kraft Heinz from a buy rating to a hold rating in a report on Saturday, July 21st. Bank of America set a $85.00 price objective on shares of Kraft Heinz and gave the company a buy rating in a report on Monday, August 6th. Jefferies Financial Group reiterated a buy rating and issued a $75.00 price objective on shares of Kraft Heinz in a report on Tuesday, August 7th. Zacks Investment Research upgraded shares of Kraft Heinz from a sell rating to a hold rating in a report on Monday, August 27th. Finally, Morgan Stanley started coverage on shares of Kraft Heinz in a report on Monday, September 17th. They issued an underweight rating and a $52.00 price objective on the stock. Five analysts have rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Hold and an average price target of $67.31.
KHC stock traded up $0.87 during mid-day trading on Monday, hitting $53.26. 280,150 shares of the company were exchanged, compared to its average volume of 7,796,411. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.57 and a current ratio of 1.00. The company has a market capitalization of $61.85 billion, a P/E ratio of 14.99, a price-to-earnings-growth ratio of 1.81 and a beta of 0.45. Kraft Heinz has a 1-year low of $50.41 and a 1-year high of $82.48.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, November 1st. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.81 by ($0.03). The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.31 billion. Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.83 earnings per share. Analysts forecast that Kraft Heinz will post 3.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 16th will be paid a $0.625 dividend. The ex-dividend date is Thursday, November 15th. This represents a $2.50 annualized dividend and a dividend yield of 4.69%. Kraft Heinz’s dividend payout ratio is presently 70.42%.
Several large investors have recently added to or reduced their stakes in the stock. Magellan Asset Management Ltd boosted its position in Kraft Heinz by 39.6% during the second quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after purchasing an additional 9,529,235 shares during the period. FMR LLC boosted its position in Kraft Heinz by 34.4% during the second quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after purchasing an additional 2,111,198 shares during the period. Northern Trust Corp boosted its position in Kraft Heinz by 3.3% during the second quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock worth $452,592,000 after purchasing an additional 230,493 shares during the period. Federated Investors Inc. PA lifted its holdings in shares of Kraft Heinz by 39,913.8% during the second quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after buying an additional 3,398,664 shares in the last quarter. Finally, Legal & General Group Plc lifted its holdings in shares of Kraft Heinz by 3.4% during the second quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock worth $181,612,000 after buying an additional 93,997 shares in the last quarter. 63.22% of the stock is owned by institutional investors and hedge funds.
Kraft Heinz Company Profile
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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