Kraft Heinz (NASDAQ:KHC) Cut to Neutral at Citigroup

Citigroup lowered shares of Kraft Heinz (NASDAQ:KHC) from a buy rating to a neutral rating in a research report report published on Thursday, MarketBeat.com reports. Citigroup currently has $28.00 price target on the stock, down from their prior price target of $34.00.

KHC has been the topic of a number of other research reports. Evercore ISI restated an “in-line” rating and issued a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. TD Cowen dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price target on Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating for the company in a report on Friday, January 31st. Stifel Nicolaus dropped their price objective on Kraft Heinz from $35.00 to $32.00 and set a “hold” rating on the stock in a research note on Friday, January 24th. Finally, Wells Fargo & Company reduced their target price on shares of Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Stock Down 1.1 %

Shares of NASDAQ:KHC opened at $28.92 on Thursday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. Kraft Heinz has a 52-week low of $27.25 and a 52-week high of $38.96. The business’s 50 day simple moving average is $29.90 and its two-hundred day simple moving average is $32.74. The firm has a market cap of $34.97 billion, a P/E ratio of 26.05, a PEG ratio of 3.74 and a beta of 0.47.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. As a group, research analysts forecast that Kraft Heinz will post 3 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.53%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently bought and sold shares of the company. Sawyer & Company Inc bought a new position in shares of Kraft Heinz during the 4th quarter worth $25,000. Fortitude Family Office LLC boosted its position 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 purchasing an additional 529 shares during the period. Generali Investments Management Co LLC purchased a new position in shares of Kraft Heinz in the fourth quarter worth about $26,000. Ashton Thomas Securities LLC bought a new stake in shares of Kraft Heinz in the third quarter valued at approximately $27,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at approximately $29,000. 78.17% of the stock is owned by institutional investors.

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.