Kraft Heinz (NASDAQ:KHC) Price Target Cut to $34.00 by Analysts at Barclays

Kraft Heinz (NASDAQ:KHC) had its target price lowered by Barclays from $36.00 to $34.00 in a research note published on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

Other research analysts also recently issued research reports about the company. Bank of America cut their price target on Kraft Heinz from $42.00 to $38.00 and set a buy rating on the stock in a research note on Wednesday, July 10th. Citigroup decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a research report on Wednesday, July 17th. Piper Sandler reduced their price objective on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating on the stock in a research note on Thursday, June 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a buy rating in a report on Thursday, April 18th. Finally, Wells Fargo & Company decreased their price target on shares of Kraft Heinz from $37.00 to $34.00 and set an equal weight rating for the company in a report on Thursday, June 27th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $38.83.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $33.12 on Friday. The stock has a market cap of $40.22 billion, a price-to-earnings ratio of 14.46, a P/E/G ratio of 2.99 and a beta of 0.53. Kraft Heinz has a 12-month low of $30.68 and a 12-month high of $38.96. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The business’s 50-day simple moving average is $33.76 and its 200 day simple moving average is $35.56.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.68 EPS. As a group, research analysts anticipate that Kraft Heinz will post 3 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 4.83%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Activity at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the sale, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Kraft Heinz

Several hedge funds have recently modified their holdings of KHC. Vanguard Group Inc. boosted its position in Kraft Heinz by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 70,398,831 shares of the company’s stock valued at $2,603,349,000 after purchasing an additional 183,234 shares during the last quarter. Capital World Investors grew its stake in shares of Kraft Heinz by 83.4% in the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock valued at $321,388,000 after buying an additional 3,961,872 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Kraft Heinz by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,577,285 shares of the company’s stock valued at $169,268,000 after buying an additional 137,169 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Kraft Heinz by 18.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,081,905 shares of the company’s stock worth $113,960,000 after buying an additional 474,758 shares during the last quarter. Finally, Nordea Investment Management AB raised its position in Kraft Heinz by 56.7% during the first quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after acquiring an additional 1,027,636 shares in the last quarter. Institutional investors 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.