Bank of America set a $83.00 target price on Kraft Heinz (NASDAQ:KHC) in a research report sent to investors on Friday morning. The brokerage currently has a buy rating on the stock.
A number of other equities research analysts also recently issued reports on the stock. Jefferies Financial Group reaffirmed a buy rating and set a $75.00 price target on shares of Kraft Heinz in a research note on Tuesday, August 7th. BidaskClub downgraded shares of Kraft Heinz from a buy rating to a hold rating in a research note on Saturday, July 21st. Zacks Investment Research raised shares of Kraft Heinz from a sell rating to a hold rating in a research note on Monday, August 27th. Morgan Stanley initiated coverage on shares of Kraft Heinz in a research note on Monday, September 17th. They issued an underweight rating and a $52.00 target price on the stock. Finally, ValuEngine raised shares of Kraft Heinz from a strong sell rating to a sell rating in a research note on Friday, October 19th. Five investment 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 has an average rating of Hold and an average target price of $67.31.
KHC stock opened at $52.39 on Friday. Kraft Heinz has a one year low of $50.41 and a one year high of $82.48. The company has a current ratio of 1.00, a quick ratio of 0.57 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $61.85 billion, a PE ratio of 14.76, a P/E/G ratio of 1.81 and a beta of 0.45.
Kraft Heinz (NASDAQ:KHC) last released 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). Kraft Heinz had a return on equity of 6.62% and a net margin of 39.56%. The company had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.31 billion. During the same period last year, the firm posted $0.83 EPS. Kraft Heinz’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Kraft Heinz will post 3.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 16th will be issued a dividend of $0.625 per share. This represents a $2.50 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Thursday, November 15th. Kraft Heinz’s payout ratio is 70.42%.
A number of institutional investors have recently modified their holdings of KHC. Principal Financial Group Inc. lifted its position in shares of Kraft Heinz by 15.2% during the first quarter. Principal Financial Group Inc. now owns 2,612,932 shares of the company’s stock valued at $162,759,000 after buying an additional 345,034 shares during the last quarter. Summit Trail Advisors LLC lifted its position in shares of Kraft Heinz by 41.0% during the first quarter. Summit Trail Advisors LLC now owns 5,571 shares of the company’s stock valued at $317,000 after buying an additional 1,619 shares during the last quarter. American National Bank lifted its position in shares of Kraft Heinz by 152.1% during the second quarter. American National Bank now owns 12,979 shares of the company’s stock valued at $815,000 after buying an additional 7,830 shares during the last quarter. First Financial Bank Trust Division purchased a new position in shares of Kraft Heinz in the 2nd quarter valued at approximately $224,000. Finally, Gulf International Bank UK Ltd raised its position in shares of Kraft Heinz by 3.6% in the 2nd quarter. Gulf International Bank UK Ltd now owns 198,154 shares of the company’s stock valued at $12,448,000 after purchasing an additional 6,805 shares during the last quarter. Institutional investors own 63.22% of the company’s stock.
About Kraft Heinz
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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