Morgan Stanley Raises Kraft Heinz (NASDAQ:KHC) Price Target to $38.00

Kraft Heinz (NASDAQ:KHC) had its target price hoisted by Morgan Stanley from $37.00 to $38.00 in a research report sent to investors on Tuesday morning, The Fly reports. The firm currently has an equal weight rating on the stock.

Several other analysts also recently weighed in on the company. TheStreet upgraded Kraft Heinz from a c rating to a b- rating in a research note on Monday, November 29th. Guggenheim downgraded Kraft Heinz from a buy rating to a neutral rating and cut their price target for the stock from $46.00 to $33.00 in a research note on Wednesday, December 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz presently has an average rating of Hold and a consensus price target of $39.33.

KHC stock opened at $38.02 on Tuesday. Kraft Heinz has a fifty-two week low of $31.60 and a fifty-two week high of $44.95. The business’s 50 day moving average price is $35.70 and its two-hundred day moving average price is $36.87. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 1.13. The company has a market capitalization of $46.54 billion, a price-to-earnings ratio of 20.33, a price-to-earnings-growth ratio of 2.88 and a beta of 1.07.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, October 27th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.07. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $6.08 billion. Kraft Heinz had a return on equity of 7.21% and a net margin of 8.76%. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.70 EPS. Sell-side analysts forecast that Kraft Heinz will post 2.79 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 17th. Investors of record on Friday, November 26th were given a $0.40 dividend. The ex-dividend date of this dividend was Wednesday, November 24th. This represents a $1.60 annualized dividend and a yield of 4.21%. Kraft Heinz’s dividend payout ratio (DPR) is presently 85.56%.

In other news, major shareholder Global Food Holdings Lp 3G sold 30,596,465 shares of the stock in a transaction on Monday, November 22nd. The stock was sold at an average price of $35.75, for a total transaction of $1,093,823,623.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Lande Rashida La sold 20,000 shares of the stock in a transaction on Tuesday, November 30th. The shares were sold at an average price of $33.77, for a total value of $675,400.00. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KHC. B. Metzler seel. Sohn & Co. Holding AG increased its stake in shares of Kraft Heinz by 70.0% in the 3rd quarter. B. Metzler seel. Sohn & Co. Holding AG now owns 64,720 shares of the company’s stock worth $2,383,000 after purchasing an additional 26,640 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Kraft Heinz in the 2nd quarter worth $2,815,000. PGGM Investments increased its stake in shares of Kraft Heinz by 101.1% in the 3rd quarter. PGGM Investments now owns 106,033 shares of the company’s stock worth $3,904,000 after purchasing an additional 53,310 shares in the last quarter. Liberty Wealth Management LLC increased its stake in shares of Kraft Heinz by 5,994.7% in the 2nd quarter. Liberty Wealth Management LLC now owns 20,783 shares of the company’s stock worth $510,000 after purchasing an additional 20,442 shares in the last quarter. Finally, ARGI Investment Services LLC increased its stake in shares of Kraft Heinz by 6.7% in the 3rd quarter. ARGI Investment Services LLC now owns 148,567 shares of the company’s stock worth $5,470,000 after purchasing an additional 9,278 shares in the last quarter. 60.98% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Company Profile

The Kraft Heinz Co engages in the manufacture and market of food and beverage products. The firm operates through the following geographical segments: United States, Canada and International. Its brands include Oscar Meyer, Velveeta, Smart Ones, Caprisun, Kool-Aid, Golden circle and Honig. The company was founded on July 2, 2015 and is headquartered in Pittsburgh, PA.

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