The Goldman Sachs Group Issues Pessimistic Forecast for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price target decreased by The Goldman Sachs Group from $34.00 to $32.00 in a research note published on Thursday, Benzinga reports. The Goldman Sachs Group currently has a sell rating on the stock.

A number of other brokerages have also commented on KHC. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Citigroup lowered their target price on shares of Kraft Heinz from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their target price for the stock from $39.00 to $35.00 in a research note on Thursday. Wells Fargo & Company increased their target price on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Finally, Bank of America cut their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Kraft Heinz has an average rating of “Hold” and a consensus target price of $37.23.

Kraft Heinz Stock Up 0.3 %

Shares of Kraft Heinz stock traded up $0.10 on Thursday, reaching $33.56. 1,471,290 shares of the company were exchanged, compared to its average volume of 7,756,291. The company has a current ratio of 1.06, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The company has a 50-day moving average of $35.20 and a 200 day moving average of $34.85. The company has a market capitalization of $40.58 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 3.30 and a beta of 0.49. Kraft Heinz has a one year low of $31.58 and a one year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 EPS. On average, equities research analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 4.77%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Hedge Funds Weigh In On Kraft Heinz

Several hedge funds have recently modified their holdings of KHC. New Covenant Trust Company N.A. purchased a new position in shares of Kraft Heinz in the first quarter worth about $27,000. Fortitude Family Office LLC increased its stake in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the last quarter. DiNuzzo Private Wealth Inc. increased its stake in Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after purchasing an additional 797 shares during the period. Bangor Savings Bank purchased a new stake in shares of Kraft Heinz during the third quarter worth approximately $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in Kraft Heinz during the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

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.