Kraft Heinz (NASDAQ:KHC) Cut to “Neutral” at Mizuho

Mizuho cut shares of Kraft Heinz (NASDAQ:KHC) from an outperform rating to a neutral rating in a research note published on Monday, MarketBeat Ratings reports. They currently have $31.00 price objective on the stock, down from their previous price objective of $38.00.

Several other brokerages have also recently issued reports on KHC. TD Cowen decreased their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. Jefferies Financial Group decreased their target price on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. Wells Fargo & Company decreased their target price on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Piper Sandler reissued a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Finally, Evercore ISI reissued an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $33.36.

Kraft Heinz Trading Down 3.2 %

NASDAQ:KHC opened at $28.62 on Monday. Kraft Heinz has a one year low of $27.25 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The company’s 50-day simple moving average is $30.02 and its 200 day simple moving average is $32.83. The firm has a market capitalization of $34.61 billion, a P/E ratio of 25.78, a PEG ratio of 3.74 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. As a group, analysts forecast that Kraft Heinz will post 3 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.59%. Kraft Heinz’s payout ratio is currently 144.14%.

Hedge Funds Weigh In On Kraft Heinz

A number of hedge funds have recently modified their holdings of KHC. AMF Tjanstepension AB boosted its position in shares of Kraft Heinz by 143.4% in the third quarter. AMF Tjanstepension AB now owns 245,522 shares of the company’s stock worth $8,620,000 after purchasing an additional 144,646 shares during the period. UMB Bank n.a. boosted its position in shares of Kraft Heinz by 37.8% in the third quarter. UMB Bank n.a. now owns 3,101 shares of the company’s stock worth $109,000 after purchasing an additional 850 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Kraft Heinz by 221.5% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,016 shares of the company’s stock worth $36,000 after purchasing an additional 700 shares during the period. CHICAGO TRUST Co NA bought a new position in shares of Kraft Heinz in the third quarter worth approximately $435,000. Finally, Thomasville National Bank boosted its position in shares of Kraft Heinz by 1.2% in the third quarter. Thomasville National Bank now owns 40,868 shares of the company’s stock worth $1,435,000 after purchasing an additional 481 shares during the period. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Company Profile

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.