Brokerages Set Kraft Heinz Company (NASDAQ:KHC) PT at $26.58

Kraft Heinz Company (NASDAQ:KHC) has received an average rating of “Reduce” from the twenty-one brokerages that are covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a sell rating, sixteen have given a hold rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $26.5789.

Several analysts have weighed in on the company. Zacks Research downgraded Kraft Heinz from a “hold” rating to a “strong sell” rating in a research note on Thursday, November 13th. DZ Bank upgraded Kraft Heinz from a “hold” rating to a “strong-buy” rating in a research report on Friday, September 19th. 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, October 30th. Evercore ISI decreased their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating for the company in a research note on Thursday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kraft Heinz from $27.00 to $26.00 in a research note on Thursday, October 30th.

Kraft Heinz Stock Up 0.2%

NASDAQ:KHC opened at $24.45 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.73 and a debt-to-equity ratio of 0.46. Kraft Heinz has a twelve month low of $23.70 and a twelve month high of $33.35. The company has a market cap of $28.94 billion, a PE ratio of -6.55 and a beta of 0.09. The company’s 50 day moving average is $24.94 and its two-hundred day moving average is $26.22.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The business had revenue of $6.39 billion during the quarter. Analysts anticipate that Kraft Heinz will post 2.68 EPS for the current year.

Kraft Heinz Cuts Dividend

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Shell Asset Management Co. boosted its position in shares of Kraft Heinz by 89.7% during the second quarter. Shell Asset Management Co. now owns 90,450 shares of the company’s stock worth $2,335,000 after buying an additional 42,758 shares during the period. Fairfax Financial Holdings Ltd. Can lifted its stake in Kraft Heinz by 45.4% during the 2nd quarter. Fairfax Financial Holdings Ltd. Can now owns 4,884,000 shares of the company’s stock worth $126,056,000 after acquiring an additional 1,525,000 shares in the last quarter. Lakeshore Capital Group Inc. boosted its holdings in Kraft Heinz by 39.8% during the 2nd quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company’s stock valued at $957,000 after acquiring an additional 10,551 shares during the period. Swedbank AB boosted its holdings in Kraft Heinz by 13.6% during the 1st quarter. Swedbank AB now owns 878,684 shares of the company’s stock valued at $26,738,000 after acquiring an additional 104,872 shares during the period. Finally, Bard Financial Services Inc. grew its position in Kraft Heinz by 24.5% in the 2nd quarter. Bard Financial Services Inc. now owns 104,225 shares of the company’s stock valued at $2,691,000 after acquiring an additional 20,500 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

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.