Kraft Heinz (NASDAQ:KHC) PT Raised to $42.00

Kraft Heinz (NASDAQ:KHC) had its price target hoisted by Bank of America from $40.00 to $42.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Citigroup started coverage on Kraft Heinz in a research report on Thursday, February 1st. They set a buy rating and a $43.00 price objective for the company. Wells Fargo & Company dropped their price objective on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating for the company in a research report on Thursday, February 15th. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $40.57.

Kraft Heinz Stock Performance

KHC opened at $37.11 on Monday. The firm has a market cap of $45.11 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.67. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $41.47. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The business’s fifty day moving average is $35.87 and its 200-day moving average is $35.36.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. Kraft Heinz’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.85 EPS. Sell-side analysts expect that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.31%. Kraft Heinz’s dividend payout ratio is presently 69.26%.

Hedge Funds Weigh In On Kraft Heinz

Several large investors have recently bought and sold shares of the company. Steward Partners Investment Solutions LLC bought a new position in shares of Kraft Heinz during the fourth quarter worth about $25,000. Ancora Advisors LLC raised its position in shares of Kraft Heinz by 69.9% during the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock worth $26,000 after acquiring an additional 272 shares during the last quarter. OFI Invest Asset Management bought a new position in shares of Kraft Heinz during the third quarter worth about $26,000. Riverview Trust Co bought a new position in shares of Kraft Heinz during the third quarter worth about $27,000. Finally, O Dell Group LLC bought a new position in shares of Kraft Heinz during the fourth quarter worth about $31,000. 78.17% of the stock is currently owned by institutional investors.

About Kraft Heinz

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.