Kraft Heinz (NASDAQ:KHC) Sets New 52-Week Low – What’s Next?

The Kraft Heinz Company (NASDAQ:KHC)’s share price reached a new 52-week low during trading on Monday . The company traded as low as $28.48 and last traded at $28.74, with a volume of 968866 shares traded. The stock had previously closed at $28.51.

Wall Street Analysts Forecast Growth

KHC has been the topic of a number of recent research reports. Stifel Nicolaus lowered shares of 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 report on Friday, October 25th. Citigroup reduced their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Thursday, October 31st. Mizuho lowered their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. Barclays reduced their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $35.58.

Kraft Heinz Price Performance

The company has a 50 day simple moving average of $31.04 and a 200 day simple moving average of $33.29. The company has a market capitalization of $34.72 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

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

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a yield of 5.57%. Kraft Heinz’s dividend payout ratio (DPR) is 144.14%.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now owns 168,195 shares in the company, valued at $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Sawyer & Company Inc acquired a new position in Kraft Heinz in the 4th quarter worth $25,000. Fortitude Family Office LLC grew its stake in shares of Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after acquiring an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kraft Heinz during the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after acquiring an additional 797 shares in the last quarter. Finally, Bangor Savings Bank purchased a new position in Kraft Heinz in the third quarter valued at about $32,000. 78.17% of the stock is owned by institutional investors and hedge funds.

About Kraft Heinz

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.