The Kraft Heinz Company (NASDAQ:KHC) Receives $37.50 Average Price Target from Brokerages

by · The Markets Daily

Shares of The Kraft Heinz Company (NASDAQ:KHC – Get Free Report) have been given an average rating of “Hold” by the eleven ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $37.45.

A number of analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Evercore ISI reduced their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kraft Heinz from $43.00 to $39.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Barclays boosted their price objective on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st.

Read Our Latest Analysis on Kraft Heinz

Kraft Heinz Trading Down 0.1 %

NASDAQ:KHC opened at $34.96 on Monday. The stock has a fifty day simple moving average of $34.80 and a 200 day simple moving average of $35.04. The company has a quick ratio of 0.53, a current ratio of 1.01 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $42.45 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 3.43 and a beta of 0.49. Kraft Heinz has a 1-year low of $30.68 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last released its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to the consensus estimate of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The firm’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.79 earnings per share. Sell-side analysts forecast that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 annualized dividend and a dividend yield of 4.58%. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Insider Activity at Kraft Heinz

In related news, insider Cory Onell sold 4,076 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total value of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kraft Heinz

A number of large investors have recently added to or reduced their stakes in KHC. Vanguard Group Inc. lifted its stake in shares of Kraft Heinz by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock worth $2,603,349,000 after buying an additional 183,234 shares during the last quarter. LSV Asset Management lifted its position in Kraft Heinz by 2.1% during the 2nd quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock worth $293,450,000 after acquiring an additional 189,000 shares during the last quarter. Legal & General Group Plc lifted its position in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock worth $292,061,000 after acquiring an additional 799,581 shares during the last quarter. Capital World Investors boosted its holdings in Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after acquiring an additional 3,961,872 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

(Get Free Report

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.

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