Kraft Heinz (NASDAQ:KHC) Given New $32.00 Price Target at Stifel Nicolaus

Kraft Heinz (NASDAQ:KHC) had its price target reduced by Stifel Nicolaus from $35.00 to $32.00 in a research report released on Friday,Benzinga reports. They currently have a hold rating on the stock.

Several other research firms also recently issued reports on KHC. Evercore ISI reissued an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. UBS Group decreased their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company dropped their price target on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $34.77.

Kraft Heinz Trading Up 0.8 %

NASDAQ:KHC opened at $29.31 on Friday. The firm has a fifty day simple moving average of $30.57 and a two-hundred day simple moving average of $33.13. Kraft Heinz has a 12 month low of $28.37 and a 12 month high of $38.96. The stock has a market capitalization of $35.44 billion, a price-to-earnings ratio of 26.41, a PEG ratio of 3.45 and a beta of 0.48. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s revenue was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 EPS. Analysts expect that Kraft Heinz will post 3 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.46%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insider Buying and Selling

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Kraft Heinz

Several hedge funds have recently made changes to their positions in the company. Public Sector Pension Investment Board raised its stake in Kraft Heinz by 47.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 14,551 shares of the company’s stock valued at $469,000 after acquiring an additional 4,714 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Kraft Heinz by 70.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 174,263 shares of the company’s stock valued at $5,615,000 after purchasing an additional 71,755 shares during the period. Caxton Associates LP purchased a new stake in shares of Kraft Heinz during the 2nd quarter valued at approximately $371,000. Armistice Capital LLC bought a new position in Kraft Heinz in the 2nd quarter worth approximately $240,000. Finally, AQR Capital Management LLC grew its stake in Kraft Heinz by 14.2% in the 2nd quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock valued at $130,912,000 after buying an additional 505,180 shares in the last quarter. 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.