A number of other brokerages have also commented on KHC. Susquehanna reaffirmed a buy rating on shares of Kraft Heinz in a research report on Monday, August 22nd. Vetr raised shares of Kraft Heinz from a sell rating to a buy rating and set a $93.36 price objective for the company in a research report on Monday, July 11th. Goldman Sachs Group Inc. reaffirmed a buy rating and set a $100.00 price objective on shares of Kraft Heinz in a research report on Saturday, August 13th. Credit Suisse Group AG reaffirmed an outperform rating and set a $100.00 price objective (up previously from $98.00) on shares of Kraft Heinz in a research report on Tuesday, August 16th. Finally, Stifel Nicolaus upped their target price on shares of Kraft Heinz from $90.00 to $95.00 and gave the company a buy rating in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating and fourteen have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average price target of $99.17.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 89.51 on Wednesday. Kraft Heinz has a 12-month low of $68.18 and a 12-month high of $90.54. The company has a market cap of $108.99 billion, a PE ratio of 65.62 and a beta of 0.47. The stock’s 50 day moving average price is $88.85 and its 200-day moving average price is $84.71.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. The business earned $6.79 billion during the quarter, compared to analyst estimates of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The firm’s revenue for the quarter was up 159.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, equities research analysts forecast that Kraft Heinz will post $3.24 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, August 26th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio is presently 181.82%.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the company’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total transaction of $244,468,695.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 26.92% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Williams Jones & Associates LLC bought a new position in shares of Kraft Heinz during the second quarter worth about $207,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Kraft Heinz during the second quarter valued at $2,129,000. Kentucky Retirement Systems acquired a new position in shares of Kraft Heinz during the second quarter valued at $4,483,000. Mason Street Advisors LLC acquired a new position in shares of Kraft Heinz during the second quarter valued at $7,101,000. Finally, CI Investments Inc. raised its position in shares of Kraft Heinz by 61.5% in the second quarter. CI Investments Inc. now owns 264,300 shares of the company’s stock valued at $23,385,000 after buying an additional 100,600 shares in the last quarter. Institutional investors own 61.30% of the company’s stock.
About Kraft Heinz
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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