Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $26.00 at BNP Paribas Exane

Kraft Heinz (NASDAQ:KHC) had its price objective lowered by BNP Paribas Exane from $29.00 to $26.00 in a report released on Thursday,MarketScreener reports.

Other equities analysts also recently issued reports about the company. Weiss Ratings restated a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. Piper Sandler cut their price target on shares of Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday. Mizuho cut their price target on shares of Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday. Hsbc Global Res upgraded shares of Kraft Heinz to a “hold” rating in a report on Friday, August 1st. Finally, Wells Fargo & Company cut their price target on shares of Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of “Reduce” and an average price target of $26.61.

Kraft Heinz Price Performance

KHC opened at $24.58 on Thursday. The stock has a fifty day simple moving average of $26.13 and a two-hundred day simple moving average of $27.01. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. The company has a market cap of $29.09 billion, a price-to-earnings ratio of -6.59, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. Kraft Heinz has a 12-month low of $24.10 and a 12-month high of $34.08.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The firm had revenue of $6.39 billion during the quarter. Research analysts predict that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.5%. The ex-dividend date is Friday, November 28th. Kraft Heinz’s dividend payout ratio (DPR) is presently -42.90%.

Institutional Investors Weigh In On Kraft Heinz

Large investors have recently bought and sold shares of the business. Shell Asset Management Co. raised its position in Kraft Heinz by 89.7% in the second quarter. Shell Asset Management Co. now owns 90,450 shares of the company’s stock worth $2,335,000 after acquiring an additional 42,758 shares during the period. Lakeshore Capital Group Inc. raised its position in Kraft Heinz by 39.8% in the second quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company’s stock worth $957,000 after acquiring an additional 10,551 shares during the period. Swedbank AB raised its position in Kraft Heinz by 13.6% in the first quarter. Swedbank AB now owns 878,684 shares of the company’s stock worth $26,738,000 after acquiring an additional 104,872 shares during the period. Bard Financial Services Inc. raised its position in Kraft Heinz by 24.5% in the second quarter. Bard Financial Services Inc. now owns 104,225 shares of the company’s stock worth $2,691,000 after acquiring an additional 20,500 shares during the period. Finally, D.A. Davidson & CO. raised its position in Kraft Heinz by 7.8% in the first quarter. D.A. Davidson & CO. now owns 90,252 shares of the company’s stock worth $2,746,000 after acquiring an additional 6,551 shares during the period. 78.17% of the stock is currently owned by institutional investors.

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.