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

Kraft Heinz Company (NASDAQ:KHC)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.65 and last traded at $23.6630, with a volume of 5537421 shares. The stock had previously closed at $24.15.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on KHC. Piper Sandler increased their price objective on shares of Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Monday, December 15th. UBS Group lowered their target price on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Evercore ISI reduced their price target on Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating on the stock in a research report on Thursday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Kraft Heinz from $30.00 to $27.00 in a research report on Thursday, October 30th. Finally, TD Cowen dropped their price objective on shares of Kraft Heinz from $28.00 to $26.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus price target of $26.63.

Kraft Heinz Trading Down 1.9%

The stock has a market cap of $28.04 billion, a P/E ratio of -6.35 and a beta of 0.09. The firm’s 50 day simple moving average is $24.87 and its two-hundred day simple moving average is $26.12. The company has a quick ratio of 0.73, a current ratio of 1.13 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results 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. As a group, equities research analysts predict that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, November 28th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 annualized dividend and a dividend yield of 6.8%. Kraft Heinz’s payout ratio is -42.90%.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, insider Miguel Patricio sold 125,000 shares of the business’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the completion of the transaction, the insider directly owned 686,817 shares of the company’s stock, valued at $17,046,797.94. The trade was a 15.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.35% of the stock is currently owned by company insiders.

Institutional Trading of Kraft Heinz

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AIA Group Ltd boosted its stake in Kraft Heinz by 103.6% during the third quarter. AIA Group Ltd now owns 364,114 shares of the company’s stock valued at $9,482,000 after buying an additional 185,291 shares in the last quarter. Mirabella Financial Services LLP boosted its position in shares of Kraft Heinz by 161.3% during the 3rd quarter. Mirabella Financial Services LLP now owns 90,255 shares of the company’s stock valued at $2,346,000 after purchasing an additional 55,718 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Kraft Heinz by 34.3% in the 3rd quarter. IFP Advisors Inc now owns 8,221 shares of the company’s stock worth $227,000 after purchasing an additional 2,100 shares during the last quarter. Investment Research Partners LLC acquired a new position in shares of Kraft Heinz in the 3rd quarter worth approximately $935,000. Finally, Strategic Advocates LLC bought a new stake in shares of Kraft Heinz in the 3rd quarter worth approximately $187,000. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.