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

Shares of The Kraft Heinz Company (NASDAQ:KHC) hit a new 52-week low on Tuesday . The stock traded as low as $26.01 and last traded at $26.46, with a volume of 10298023 shares. The stock had previously closed at $26.50.

Analyst Upgrades and Downgrades

KHC has been the subject of a number of recent analyst reports. The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a “sell” rating for the company in a report on Thursday, February 13th. Wall Street Zen raised Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. DZ Bank cut Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Friday, May 9th. JPMorgan Chase & Co. lowered their price target on Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. Finally, Cfra Research downgraded Kraft Heinz from a “moderate buy” rating to a “hold” rating in a report on Wednesday, April 16th. Four investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of “Hold” and a consensus target price of $30.65.

Kraft Heinz Price Performance

The company has a market cap of $31.44 billion, a P/E ratio of 11.64, a P/E/G ratio of 3.39 and a beta of 0.30. The company’s 50-day moving average price is $28.82 and its two-hundred day moving average price is $29.88. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The firm had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same period in the previous year, the company earned $0.69 earnings per share. Kraft Heinz’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts expect that The Kraft Heinz Company will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.02%. Kraft Heinz’s dividend payout ratio (DPR) is 73.06%.

Institutional Investors Weigh In On Kraft Heinz

A number of institutional investors have recently modified their holdings of KHC. Vanguard Group Inc. boosted its position in Kraft Heinz by 19.9% during the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company’s stock valued at $2,779,524,000 after purchasing an additional 14,996,486 shares during the period. Norges Bank acquired a new position in shares of Kraft Heinz during the fourth quarter valued at $324,857,000. Pacer Advisors Inc. boosted its holdings in shares of Kraft Heinz by 4,390.7% during the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company’s stock valued at $226,523,000 after acquiring an additional 7,278,295 shares during the period. Southeastern Asset Management Inc. TN bought a new position in shares of Kraft Heinz during the fourth quarter worth about $87,080,000. Finally, Fairfax Financial Holdings Ltd. Can lifted its position in Kraft Heinz by 341.9% in the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company’s stock valued at $101,773,000 after purchasing an additional 2,564,000 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.