Kraft Heinz (NASDAQ:KHC) PT Lowered to $39.00

Kraft Heinz (NASDAQ:KHC) had its price objective cut by Deutsche Bank Aktiengesellschaft from $43.00 to $39.00 in a report released on Wednesday, MarketBeat reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on KHC. Wells Fargo & Company cut their price target on Kraft Heinz from $37.00 to $34.00 and set an equal weight rating for the company in a report on Thursday, June 27th. Citigroup cut their price target on Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a report on Wednesday, July 17th. Evercore ISI cut their price target on Kraft Heinz from $42.00 to $38.00 and set an overweight rating for the company in a report on Wednesday. Piper Sandler cut their price target on Kraft Heinz from $42.00 to $41.00 and set an overweight rating for the company in a report on Thursday, June 20th. Finally, Barclays lowered their price objective on Kraft Heinz from $36.00 to $34.00 and set an equal weight rating on the stock in a research note on Friday, July 19th. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $37.58.

Kraft Heinz Price Performance

NASDAQ KHC opened at $36.06 on Wednesday. Kraft Heinz has a twelve month low of $30.68 and a twelve month high of $38.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01. The stock has a market capitalization of $43.60 billion, a PE ratio of 15.75, a P/E/G ratio of 3.52 and a beta of 0.53. The stock has a 50-day simple moving average of $33.34 and a 200 day simple moving average of $35.31.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The business had revenue of $6.50 billion during the quarter, compared to analysts’ expectations of $6.55 billion. During the same quarter in the previous year, the firm earned $0.79 EPS. The firm’s revenue was down 3.3% compared to the same quarter last year. Research analysts anticipate that Kraft Heinz will post 3.02 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 dividend on an annualized basis and a yield of 4.44%. Kraft Heinz’s dividend payout ratio (DPR) is presently 69.87%.

Insider Buying and Selling

In related news, insider Lande Rashida La sold 10,140 shares of the 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 directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KHC. Steward Partners Investment Solutions LLC acquired a new stake in Kraft Heinz during the 4th quarter worth $25,000. New Covenant Trust Company N.A. acquired a new stake in shares of Kraft Heinz in the 1st quarter valued at about $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $32,000. Hantz Financial Services Inc. acquired a new stake in shares of Kraft Heinz in the 2nd quarter valued at about $34,000. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.