Kraft Heinz (NASDAQ:KHC) PT Lowered to $34.00 at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC) had its target price cut by Wells Fargo & Company from $37.00 to $34.00 in a research note published on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities research analysts have also commented on the stock. Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating for the company in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a report on Thursday, April 18th. Finally, Bank of America lifted their price target on shares of Kraft Heinz from $40.00 to $42.00 and gave the stock a buy rating in a research note on Monday, April 15th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $39.75.

Kraft Heinz Trading Down 0.2 %

Shares of KHC stock opened at $32.22 on Thursday. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. Kraft Heinz has a 12-month low of $30.68 and a 12-month high of $38.96. The stock has a market capitalization of $39.12 billion, a P/E ratio of 14.07, a P/E/G ratio of 2.60 and a beta of 0.57. The firm’s 50 day moving average is $35.19 and its 200 day moving average is $36.03.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.68 EPS. Research analysts expect that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date of this dividend was Thursday, June 6th. Kraft Heinz’s dividend payout ratio (DPR) is 69.87%.

Insiders Place Their Bets

In related news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Solutions LLC bought a new stake in Kraft Heinz in the fourth quarter worth $25,000. New Covenant Trust Company N.A. purchased a new stake in shares of Kraft Heinz during the 1st quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Kraft Heinz in the 4th quarter valued at about $32,000. BKM Wealth Management LLC purchased a new position in Kraft Heinz in the fourth quarter worth about $33,000. Finally, Headinvest LLC bought a new stake in Kraft Heinz during the third quarter worth approximately $38,000. Institutional investors own 78.17% of the company’s stock.

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.