Kraft Heinz Co. (NASDAQ:KHC)‘s stock had its “focus list” rating reiterated by equities researchers at JPMorgan Chase & Co. in a note issued to investors on Tuesday.
Other equities research analysts have also issued reports about the stock. Vetr raised shares of Kraft Heinz from a “sell” rating to a “hold” rating and set a $87.68 target price for the company in a report on Monday, July 4th. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 price objective for the company in a report on Monday, August 8th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and set a $98.00 price objective (up from $93.00) on shares of Kraft Heinz in a report on Friday, July 15th. Royal Bank Of Canada increased their price objective on shares of Kraft Heinz from $92.00 to $96.00 and gave the company an “outperform” rating in a report on Friday, August 5th. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and set a $100.00 price objective (up from $98.00) on shares of Kraft Heinz in a report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $99.17.
Kraft Heinz (NASDAQ:KHC) traded down 0.603% during trading on Tuesday, reaching $88.543. The company had a trading volume of 367,541 shares. The firm’s 50 day moving average is $88.84 and its 200 day moving average is $84.89. The company has a market capitalization of $107.81 billion, a PE ratio of 64.914 and a beta of 0.47. Kraft Heinz has a one year low of $68.18 and a one year high of $90.54.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.14. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The firm had revenue of $6.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the prior year, the business earned $0.92 EPS. The business’s quarterly revenue was up 159.7% on a year-over-year basis. On average, equities research analysts predict that Kraft Heinz will post $3.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, August 26th will be given a $0.60 dividend. The ex-dividend date is Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 2.69%. Kraft Heinz’s dividend payout ratio (DPR) is currently 181.82%.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 26.92% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in shares of Kraft Heinz by 22.6% in the first quarter. Envestnet Asset Management Inc. now owns 353,441 shares of the company’s stock worth $27,766,000 after buying an additional 65,072 shares in the last quarter. Natixis increased its stake in shares of Kraft Heinz by 214.4% in the first quarter. Natixis now owns 352,559 shares of the company’s stock worth $27,696,000 after buying an additional 240,411 shares in the last quarter. GW&K Investment Management LLC increased its stake in shares of Kraft Heinz by 0.5% in the second quarter. GW&K Investment Management LLC now owns 308,403 shares of the company’s stock worth $27,287,000 after buying an additional 1,678 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Kraft Heinz by 4.0% in the second quarter. Nisa Investment Advisors LLC now owns 192,380 shares of the company’s stock worth $17,022,000 after buying an additional 7,340 shares in the last quarter. Finally, British Airways Pensions Investment Management Ltd bought a new stake in shares of Kraft Heinz during the second quarter worth about $25,161,000. 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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