Goldman Sachs Group Inc Boosts Kraft Heinz Co (KHC) Price Target to $96.00

Kraft Heinz Co (NASDAQ:KHC) had its price target hoisted by Goldman Sachs Group Inc from $95.00 to $96.00 in a research note issued on Tuesday, April 4th. The firm presently has a “buy” rating on the stock. Goldman Sachs Group Inc’s price target suggests a potential upside of 7.02% from the company’s previous close.

KHC has been the subject of several other research reports. Sanford C. Bernstein reissued a “top pick” rating and issued a $109.00 target price on shares of Kraft Heinz in a research note on Friday, January 6th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Friday, January 20th. Vetr raised shares of Kraft Heinz from a “hold” rating to a “buy” rating and set a $95.36 target price for the company in a research note on Wednesday, March 1st. Deutsche Bank AG started coverage on Kraft Heinz in a report on Wednesday, February 15th. They issued a “buy” rating and a $103.00 price target for the company. Finally, Citigroup Inc upgraded Kraft Heinz from a “sell” rating to a “neutral” rating in a report on Wednesday, January 11th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $98.03.

Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

Kraft Heinz (NASDAQ:KHC) opened at 89.70 on Tuesday. The stock has a market capitalization of $109.18 billion, a PE ratio of 31.92 and a beta of 0.42. The firm has a 50 day moving average of $91.30 and a 200-day moving average of $88.36. Kraft Heinz has a 52 week low of $79.69 and a 52 week high of $97.77.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, May 3rd. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.01. Kraft Heinz had a net margin of 10.44% and a return on equity of 6.40%. The firm earned $6.36 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the firm posted $0.73 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities analysts predict that Kraft Heinz will post $3.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 16th. Investors of record on Friday, May 19th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, May 17th. Kraft Heinz’s dividend payout ratio (DPR) is presently 105.26%.

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Institutional investors have recently added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. raised its position in Kraft Heinz by 1.5% in the third quarter. Beese Fulmer Investment Management Inc. now owns 83,157 shares of the company’s stock valued at $7,443,000 after buying an additional 1,214 shares during the period. 1st Global Advisors Inc. raised its position in Kraft Heinz by 14.9% in the third quarter. 1st Global Advisors Inc. now owns 9,081 shares of the company’s stock valued at $813,000 after buying an additional 1,177 shares during the period. Signature Financial Management Inc. bought a new position in Kraft Heinz during the third quarter valued at approximately $201,000. Bank of Montreal Can raised its position in Kraft Heinz by 6.9% in the third quarter. Bank of Montreal Can now owns 487,790 shares of the company’s stock valued at $43,662,000 after buying an additional 31,612 shares during the period. Finally, Stralem & Co. Inc. raised its position in Kraft Heinz by 1,550.8% in the third quarter. Stralem & Co. Inc. now owns 310,350 shares of the company’s stock valued at $27,779,000 after buying an additional 291,550 shares during the period. 61.47% of the stock is currently owned by hedge funds and other institutional investors.

About Kraft Heinz

The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.

5 Day Chart for NASDAQ:KHC

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