Brokerages Set The Kraft Heinz Company (NASDAQ:KHC) Price Target at $37.50

The Kraft Heinz Company (NASDAQ:KHC) has been given a consensus rating of “Hold” by the eleven analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and six have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $37.45.

A number of brokerages have recently weighed in on KHC. The Goldman Sachs Group initiated coverage on Kraft Heinz in a report on Monday, August 12th. They issued a “sell” rating and a $34.00 price target for the company. Barclays boosted their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Evercore ISI reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 31st. Piper Sandler lowered their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an “overweight” rating for the company in a research report on Thursday, June 20th. Finally, Wells Fargo & Company raised their target price on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st.

Kraft Heinz Trading Down 0.1 %

KHC opened at $34.96 on Monday. The stock has a market capitalization of $42.45 billion, a PE ratio of 15.27, a P/E/G ratio of 3.43 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.01 and a quick ratio of 0.53. Kraft Heinz has a 12-month low of $30.68 and a 12-month high of $38.96. The firm’s fifty day moving average price is $34.80 and its 200 day moving average price is $35.04.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.73 by $0.05. The business had revenue of $6.50 billion for the quarter, compared to analysts’ expectations of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 earnings per share. As a group, research analysts expect that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.58%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insiders Place Their Bets

In other news, insider Cory Onell sold 4,076 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the transaction, the insider now directly owns 143,970 shares of the company’s stock, valued at $5,182,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. TCW Group Inc. bought a new position in Kraft Heinz during the 4th quarter valued at $1,098,000. Shell Asset Management Co. grew its holdings in Kraft Heinz by 251.3% during the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after acquiring an additional 24,199 shares during the period. Tower Research Capital LLC TRC raised its position in Kraft Heinz by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after acquiring an additional 75,149 shares in the last quarter. Bridgewater Associates LP lifted its holdings in Kraft Heinz by 7.7% in the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after acquiring an additional 118,260 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in shares of Kraft Heinz by 13.2% during the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after purchasing an additional 234,783 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.