Kraft Heinz Co (NASDAQ:KHC) announced a quarterly dividend on Thursday, July 30th, RTT News reports. Shareholders of record on Friday, August 28th will be paid a dividend of 0.40 per share on Friday, September 25th. This represents a $1.60 annualized dividend and a yield of 4.69%.
Kraft Heinz has decreased its dividend payment by an average of 31.9% annually over the last three years and has increased its dividend annually for the last 5 consecutive years. Kraft Heinz has a dividend payout ratio of 68.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Kraft Heinz to earn $2.43 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 65.8%.
Shares of NASDAQ:KHC traded down $1.43 during trading on Thursday, reaching $34.14. 115,745 shares of the stock were exchanged, compared to its average volume of 5,253,449. The firm’s 50-day moving average price is $32.84 and its 200 day moving average price is $29.32. The firm has a market cap of $41.74 billion, a price-to-earnings ratio of 22.66, a price-to-earnings-growth ratio of 2.44 and a beta of 1.01. Kraft Heinz has a 12-month low of $19.99 and a 12-month high of $35.87. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.48.
Several research analysts have recently weighed in on the stock. Barclays restated a “hold” rating and issued a $36.00 target price on shares of Kraft Heinz in a research note on Sunday, July 19th. Jefferies Financial Group raised their target price on Kraft Heinz from $32.00 to $36.00 and gave the company a “hold” rating in a research note on Monday. BidaskClub upgraded Kraft Heinz from a “hold” rating to a “buy” rating in a research note on Thursday, July 16th. Deutsche Bank raised Kraft Heinz from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Thursday, July 16th. Finally, Morgan Stanley upped their target price on Kraft Heinz from $30.00 to $32.00 and gave the company an “equal weight” rating in a research report on Monday, July 13th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company. Kraft Heinz has a consensus rating of “Hold” and a consensus target price of $32.79.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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