Kraft Heinz Co. (NASDAQ:KHC) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Thursday. The firm currently has a $98.22 target price on the stock. Vetr‘s price target indicates a potential upside of 12.41% from the company’s previous close.
KHC has been the subject of a number of other reports. Zacks Investment Research cut Kraft Heinz from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. RBC Capital Markets reissued an “outperform” rating and issued a $96.00 target price (up from $92.00) on shares of Kraft Heinz in a research note on Friday, August 5th. Stifel Nicolaus boosted their target price on Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Deutsche Bank AG raised Kraft Heinz from a “hold” rating to a “buy” rating and boosted their target price for the company from $85.00 to $103.00 in a research note on Friday, August 5th. Finally, Royal Bank Of Canada boosted their target price on Kraft Heinz from $92.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Kraft Heinz has an average rating of “Buy” and an average target price of $99.17.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 87.38 on Thursday. Kraft Heinz has a 52 week low of $68.18 and a 52 week high of $90.54. The stock has a market capitalization of $106.40 billion, a P/E ratio of 64.06 and a beta of 0.47. The company has a 50-day moving average price of $88.76 and a 200 day moving average price of $84.98.
Kraft Heinz (NASDAQ:KHC) last released its earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.14. The company earned $6.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The business’s revenue for the quarter was up 159.7% on a year-over-year basis. During the same period last year, the firm earned $0.92 EPS. Analysts forecast that Kraft Heinz will post $3.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be paid a $0.60 dividend. 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. This represents a $2.40 annualized dividend and a yield of 2.75%. Kraft Heinz’s dividend payout ratio is currently 181.82%.
In other Kraft Heinz 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 stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 26.92% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. First American Trust FSB raised its stake in Kraft Heinz by 2.9% in the third quarter. First American Trust FSB now owns 43,783 shares of the company’s stock valued at $3,919,000 after buying an additional 1,218 shares in the last quarter. Fulton Bank N.A. raised its stake in Kraft Heinz by 14.5% in the third quarter. Fulton Bank N.A. now owns 39,094 shares of the company’s stock valued at $3,499,000 after buying an additional 4,964 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Kraft Heinz by 232.6% in the third quarter. BNP Paribas Arbitrage SA now owns 862,816 shares of the company’s stock valued at $77,231,000 after buying an additional 603,422 shares in the last quarter. Eqis Capital Management Inc. raised its stake in Kraft Heinz by 17.3% in the third quarter. Eqis Capital Management Inc. now owns 7,519 shares of the company’s stock valued at $673,000 after buying an additional 1,109 shares in the last quarter. Finally, West Oak Capital LLC raised its stake in Kraft Heinz by 6.9% in the third quarter. West Oak Capital LLC now owns 1,549 shares of the company’s stock valued at $139,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 61.30% of the company’s stock.
Kraft Heinz Company Profile
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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