Stifel Nicolaus reiterated their buy rating on shares of Kraft Heinz Co. (NASDAQ:KHC) in a research report sent to investors on Tuesday. Stifel Nicolaus currently has a $95.00 price target on the stock.
Other equities research analysts also recently issued reports about the stock. Sanford C. Bernstein set a $110.00 price target on shares of Kraft Heinz and gave the company a buy rating in a research note on Monday, September 12th. Susquehanna reduced their price target on shares of Kraft Heinz from $118.00 to $114.00 and set a positive rating on the stock in a research note on Friday, August 26th. Morgan Stanley reduced their price target on shares of Kraft Heinz from $100.00 to $97.00 and set an overweight rating on the stock in a research note on Wednesday, August 31st. Deutsche Bank AG raised shares of Kraft Heinz from a hold rating to a buy rating and boosted their price target for the company from $85.00 to $103.00 in a research note on Friday, August 5th. Finally, Vetr raised shares of Kraft Heinz from a buy rating to a strong-buy rating and set a $98.22 price target on the stock in a research note on Monday, September 12th. Two research analysts have rated the stock with a sell rating and fourteen have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $99.17.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 89.51 on Tuesday. Kraft Heinz has a 52 week low of $68.18 and a 52 week high of $90.54. The firm has a 50-day moving average of $88.85 and a 200 day moving average of $84.71. The firm has a market capitalization of $108.99 billion, a P/E ratio of 65.62 and a beta of 0.47.
Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.14. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The company had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. Kraft Heinz’s quarterly revenue was up 159.7% compared to the same quarter last year. On average, equities research analysts expect that Kraft Heinz will post $3.24 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.68%. The ex-dividend date is Wednesday, August 24th. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s payout ratio is 181.82%.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.92% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Fisher Asset Management LLC boosted its position in shares of Kraft Heinz by 7.6% in the first quarter. Fisher Asset Management LLC now owns 3,218 shares of the company’s stock valued at $251,000 after buying an additional 226 shares during the last quarter. Boston Advisors LLC boosted its position in shares of Kraft Heinz by 3.8% in the first quarter. Boston Advisors LLC now owns 5,518 shares of the company’s stock valued at $433,000 after buying an additional 202 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its position in shares of Kraft Heinz by 106.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 9,206 shares of the company’s stock valued at $726,000 after buying an additional 4,744 shares during the last quarter. First Manhattan Co. boosted its position in shares of Kraft Heinz by 101.0% in the first quarter. First Manhattan Co. now owns 376,455 shares of the company’s stock valued at $29,574,000 after buying an additional 189,193 shares during the last quarter. Finally, Douglas Lane & Associates LLC bought a new position in shares of Kraft Heinz during the first quarter valued at about $469,000. Institutional investors and hedge funds 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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