Kraft Heinz (NASDAQ:KHC) PT Lowered to $41.00 at Piper Sandler

Kraft Heinz (NASDAQ:KHCFree Report) had its target price cut by Piper Sandler from $42.00 to $41.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently issued reports on KHC. Bank of America increased their price objective on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a buy rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kraft Heinz has an average rating of Moderate Buy and a consensus target price of $40.00.

Get Our Latest Research Report on Kraft Heinz

Kraft Heinz Price Performance

KHC opened at $32.95 on Thursday. The company has a 50-day moving average of $35.62 and a 200-day moving average of $36.17. The company has a market capitalization of $40.01 billion, a P/E ratio of 14.39, a PEG ratio of 2.63 and a beta of 0.57. Kraft Heinz has a 1-year low of $30.68 and a 1-year high of $38.96. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09.

Kraft Heinz (NASDAQ:KHCGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business had revenue of $6.41 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities analysts expect that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $1.60 annualized dividend and a yield of 4.86%. Kraft Heinz’s dividend payout ratio is 69.87%.

Insiders Place Their Bets

In other news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors have recently added to or reduced their stakes in KHC. QRG Capital Management Inc. bought a new position in shares of Kraft Heinz in the third quarter worth about $895,000. Envestnet Asset Management Inc. grew its position in shares of Kraft Heinz by 45.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,684,872 shares of the company’s stock worth $56,679,000 after buying an additional 523,162 shares during the period. FMR LLC grew its holdings in Kraft Heinz by 37.9% during the third quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after purchasing an additional 832,653 shares during the period. CI Investments Inc. grew its holdings in Kraft Heinz by 225.3% during the third quarter. CI Investments Inc. now owns 7,141 shares of the company’s stock valued at $240,000 after purchasing an additional 4,946 shares during the period. Finally, V Square Quantitative Management LLC acquired a new position in shares of Kraft Heinz in the third quarter valued at approximately $198,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Company Profile

(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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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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