Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $32.00 at TD Cowen

Kraft Heinz (NASDAQ:KHC) had its price objective cut by TD Cowen from $34.00 to $32.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts have also recently issued research reports about the company. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Citigroup reduced their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Evercore ISI restated an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday. The Goldman Sachs Group reduced their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Finally, Barclays lowered their price objective on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz has an average rating of “Hold” and an average target price of $35.58.

Kraft Heinz Stock Performance

Shares of KHC opened at $29.66 on Wednesday. Kraft Heinz has a 12-month low of $29.23 and a 12-month high of $38.96. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The company has a market cap of $35.86 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The stock has a 50-day moving average price of $31.41 and a 200-day moving average price of $33.38.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Kraft Heinz’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, equities analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Insider Activity

In related news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Kraft Heinz

Large investors have recently modified their holdings of the stock. State Street Corp raised its stake in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock worth $1,558,898,000 after buying an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after acquiring an additional 1,944,019 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in shares of Kraft Heinz in the 3rd quarter worth approximately $411,304,000. Legal & General Group Plc lifted its stake in shares of Kraft Heinz by 9.7% in the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after purchasing an additional 799,581 shares during the period. Finally, Nordea Investment Management AB boosted its position in shares of Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares in 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.