TheStreet Downgrades Kraft Heinz (NASDAQ:KHC) to C+

TheStreet lowered shares of Kraft Heinz (NASDAQ:KHCGet Rating) from a b rating to a c+ rating in a research report sent to investors on Monday morning, TheStreetRatingsTable reports.

A number of other brokerages have also recently issued reports on KHC. Mizuho started coverage on shares of Kraft Heinz in a research note on Monday, July 18th. They issued a buy rating and a $48.00 price target on the stock. The Goldman Sachs Group reissued an upgrade rating on shares of Kraft Heinz in a report on Thursday, July 28th. BMO Capital Markets upgraded Kraft Heinz from a market perform rating to an outperform rating and set a $46.00 price objective for the company in a report on Wednesday, June 22nd. UBS Group lowered shares of Kraft Heinz from a neutral rating to a sell rating and reduced their price target for the stock from $40.00 to $34.00 in a research note on Thursday, May 26th. Finally, Stifel Nicolaus raised shares of Kraft Heinz from a hold rating to a buy rating and set a $43.00 target price for the company in a research report on Thursday, July 28th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $40.44.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $34.26 on Monday. Kraft Heinz has a fifty-two week low of $32.78 and a fifty-two week high of $44.87. The stock has a market cap of $41.98 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 2.56 and a beta of 0.70. The stock’s 50 day simple moving average is $37.33 and its two-hundred day simple moving average is $38.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.52 and a current ratio of 0.89.

Kraft Heinz (NASDAQ:KHCGet Rating) last announced its earnings results on Wednesday, July 27th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.03. The firm had revenue of $6.55 billion for the quarter, compared to analysts’ expectations of $6.36 billion. Kraft Heinz had a net margin of 5.92% and a return on equity of 6.82%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. As a group, analysts expect that Kraft Heinz will post 2.66 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, August 26th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 25th. This represents a $1.60 annualized dividend and a yield of 4.67%. Kraft Heinz’s dividend payout ratio (DPR) is currently 131.15%.

Insider Activity

In other news, CAO Lande Rashida La sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $36.56, for a total value of $127,960.00. Following the completion of the sale, the chief accounting officer now directly owns 266,627 shares of the company’s stock, valued at approximately $9,747,883.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Vince Garlati sold 19,938 shares of the stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $38.43, for a total value of $766,217.34. Following the sale, the vice president now directly owns 94,843 shares of the company’s stock, valued at approximately $3,644,816.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Lande Rashida La sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $36.56, for a total value of $127,960.00. Following the transaction, the chief accounting officer now owns 266,627 shares of the company’s stock, valued at approximately $9,747,883.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,438 shares of company stock worth $2,044,977. 1.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Brookstone Capital Management lifted its holdings in shares of Kraft Heinz by 9.0% in the 1st quarter. Brookstone Capital Management now owns 23,338 shares of the company’s stock worth $963,000 after buying an additional 1,934 shares during the period. Prudential PLC increased its position in Kraft Heinz by 20.2% during the 1st quarter. Prudential PLC now owns 84,622 shares of the company’s stock valued at $3,333,000 after purchasing an additional 14,205 shares during the period. AIA Group Ltd raised its holdings in shares of Kraft Heinz by 45.0% in the 1st quarter. AIA Group Ltd now owns 16,705 shares of the company’s stock valued at $658,000 after purchasing an additional 5,187 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in shares of Kraft Heinz in the 1st quarter worth approximately $4,067,000. Finally, Madison Asset Management LLC bought a new position in shares of Kraft Heinz during the first quarter valued at approximately $299,000. 67.03% of the stock is currently owned by institutional investors.

About Kraft Heinz

(Get Rating)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

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