Kraft Heinz (NASDAQ:KHC) Sets New 12-Month Low – Here’s What Happened

Kraft Heinz Company (NASDAQ:KHC)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $23.65 and last traded at $23.6630, with a volume of 5537421 shares traded. The stock had previously closed at $24.15.

Wall Street Analysts Forecast Growth

KHC has been the topic of several research reports. UBS Group dropped their price objective on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, October 30th. Evercore ISI dropped their price target on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, October 30th. Barclays decreased their price objective on shares of Kraft Heinz from $26.00 to $24.00 and set an “equal weight” rating for the company in a report on Thursday, October 30th. Finally, Stifel Nicolaus reduced their target price on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $26.63.

Kraft Heinz Stock Performance

The firm has a market capitalization of $28.37 billion, a PE ratio of -6.43 and a beta of 0.09. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. The business’s 50 day simple moving average is $24.81 and its two-hundred day simple moving average is $26.08.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The company had revenue of $6.39 billion during the quarter. Research analysts expect that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 6.7%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s dividend payout ratio is currently -42.90%.

Insider Buying and Selling at Kraft Heinz

In other news, insider Miguel Patricio sold 125,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total value of $3,102,500.00. Following the completion of the sale, the insider directly owned 686,817 shares in the company, valued at $17,046,797.94. This represents a 15.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently bought and sold shares of KHC. Triumph Capital Management purchased a new position in Kraft Heinz in the 3rd quarter worth approximately $118,000. AIA Group Ltd increased its holdings in Kraft Heinz by 103.6% in the 3rd quarter. AIA Group Ltd now owns 364,114 shares of the company’s stock valued at $9,482,000 after acquiring an additional 185,291 shares during the last quarter. Mirabella Financial Services LLP lifted its stake in Kraft Heinz by 161.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 90,255 shares of the company’s stock worth $2,346,000 after purchasing an additional 55,718 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Kraft Heinz by 34.3% during the 3rd quarter. IFP Advisors Inc now owns 8,221 shares of the company’s stock valued at $227,000 after purchasing an additional 2,100 shares during the last quarter. Finally, Investment Research Partners LLC purchased a new position in shares of Kraft Heinz during the third quarter valued at about $935,000. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.