Kraft Heinz (NASDAQ:KHC) Reaches New 52-Week Low Following Analyst Downgrade

The Kraft Heinz Company (NASDAQ:KHC)’s share price reached a new 52-week low during trading on Tuesday after Wells Fargo & Company lowered their price target on the stock from $35.00 to $31.00. Wells Fargo & Company currently has an equal weight rating on the stock. Kraft Heinz traded as low as $29.97 and last traded at $30.13, with a volume of 800986 shares trading hands. The stock had previously closed at $30.05.

A number of other brokerages also recently commented on KHC. Piper Sandler reiterated a “neutral” rating and set a $35.00 price objective (down previously from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $35.00 in a research note on Thursday, October 31st. Barclays cut their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. The Goldman Sachs Group lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research note on Thursday, October 31st. Finally, Mizuho lowered their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and a consensus price target of $35.91.

Insiders Place Their Bets

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. MADDEN SECURITIES Corp increased its holdings in Kraft Heinz by 2.4% in the 3rd quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after purchasing an additional 303 shares in the last quarter. Axiom Advisory LLC increased its holdings in Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after purchasing an additional 327 shares in the last quarter. Norden Group LLC grew its stake in shares of Kraft Heinz by 3.8% during the second quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after acquiring an additional 339 shares in the last quarter. Valley Wealth Managers Inc. grew its stake in shares of Kraft Heinz by 46.4% during the second quarter. Valley Wealth Managers Inc. now owns 1,073 shares of the company’s stock valued at $35,000 after acquiring an additional 340 shares in the last quarter. Finally, Trust Co. of Vermont grew its stake in shares of Kraft Heinz by 3.6% during the third quarter. Trust Co. of Vermont now owns 10,388 shares of the company’s stock valued at $365,000 after acquiring an additional 358 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Kraft Heinz Stock Up 0.5 %

The firm has a 50 day moving average price of $31.59 and a two-hundred day moving average price of $33.43. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $36.52 billion, a price-to-earnings ratio of 27.21, a P/E/G ratio of 3.62 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The business had revenue of $6.38 billion during the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was down 2.8% compared to the same quarter last year. As a group, sell-side analysts expect that The Kraft Heinz Company will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.30%. Kraft Heinz’s dividend payout ratio is presently 144.14%.

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.