Kraft Heinz (NASDAQ:KHC) Price Target Cut to $35.00 by Analysts at Barclays

Kraft Heinz (NASDAQ:KHC) had its price objective trimmed by Barclays from $36.00 to $35.00 in a research report report published on Friday, Benzinga reports. They currently have an equal weight rating on the stock.

KHC has been the topic of several other reports. Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. JPMorgan Chase & Co. cut their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their target price for the company from $39.00 to $35.00 in a research note on Thursday. Finally, Bank of America lowered their target price on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of “Hold” and a consensus target price of $37.15.

Kraft Heinz Price Performance

NASDAQ KHC traded up $0.03 on Friday, reaching $33.49. The company’s stock had a trading volume of 5,676,568 shares, compared to its average volume of 7,776,126. The firm has a market cap of $40.49 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 3.30 and a beta of 0.49. The business has a 50-day moving average price of $35.15 and a 200 day moving average price of $34.83. Kraft Heinz has a 52 week low of $31.58 and a 52 week high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.72 earnings per share. Sell-side analysts expect that Kraft Heinz will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in KHC. MADDEN SECURITIES Corp increased its stake in shares of Kraft Heinz by 2.4% during the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock worth $448,000 after purchasing an additional 303 shares during the last quarter. HB Wealth Management LLC increased its stake in shares of Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock worth $419,000 after purchasing an additional 314 shares during the last quarter. Axiom Advisory LLC increased its stake in shares of Kraft Heinz by 5.2% during the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock worth $227,000 after purchasing an additional 327 shares during the last quarter. Lorne Steinberg Wealth Management Inc. increased its stake in shares of Kraft Heinz by 0.3% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock worth $4,044,000 after purchasing an additional 335 shares during the last quarter. Finally, Norden Group LLC increased its stake in shares of Kraft Heinz by 3.8% during the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after purchasing an additional 339 shares during the last quarter. Institutional investors 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.