Kraft Heinz’s (KHC) “In-Line” Rating Reaffirmed at Evercore ISI

Evercore ISI reaffirmed their in-line rating on shares of Kraft Heinz (NASDAQ:KHC) in a research report released on Tuesday, Marketbeat.com reports. Evercore ISI currently has a $35.00 price objective on the stock, down from their previous price objective of $38.00.

Other equities research analysts have also recently issued reports about the company. Piper Sandler restated a “neutral” rating and issued a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Stifel Nicolaus lowered shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $38.00 in a research report on Friday, October 25th. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. Mizuho lowered their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Finally, Citigroup cut their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $35.91.

Kraft Heinz Stock Down 0.9 %

Kraft Heinz stock opened at $29.77 on Tuesday. The firm has a 50 day moving average price of $31.49 and a 200-day moving average price of $33.41. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. Kraft Heinz has a twelve month low of $29.71 and a twelve month high of $38.96. The company has a market capitalization of $36.00 billion, a P/E ratio of 26.82, a P/E/G ratio of 3.62 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share 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 analyst estimates of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. Kraft Heinz’s revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.72 earnings per share. As a group, equities analysts predict that Kraft Heinz will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kraft Heinz

Several hedge funds have recently added to or reduced their stakes in the company. Fortitude Family Office LLC raised its holdings in shares of Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 529 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Kraft Heinz during the third quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Kraft Heinz by 1,077.0% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after acquiring an additional 797 shares during the last quarter. Asset Dedication LLC boosted its stake in shares of Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after purchasing an additional 476 shares in the last quarter. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz during the 3rd quarter valued at $32,000. 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.