Kraft Heinz (NASDAQ:KHC) Given “Neutral” Rating at Piper Sandler

Piper Sandler reissued their neutral rating on shares of Kraft Heinz (NASDAQ:KHC) in a report published on Tuesday, MarketBeat.com reports. They currently have a $35.00 price objective on the stock, down from their prior price objective of $40.00.

Several other equities research analysts have also recently weighed in on the stock. Mizuho cut their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. The Goldman Sachs Group reduced their price target on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price objective for the company from $39.00 to $35.00 in a research report on Thursday, October 31st. Barclays decreased their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Finally, Stifel Nicolaus downgraded Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Kraft Heinz has a consensus rating of “Hold” and an average price target of $36.55.

Kraft Heinz Trading Up 0.7 %

KHC stock opened at $31.10 on Tuesday. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The company has a market capitalization of $37.60 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 3.49 and a beta of 0.49. Kraft Heinz has a 52 week low of $30.40 and a 52 week high of $38.96. The company’s 50-day simple moving average is $34.16 and its 200 day simple moving average is $34.29.

Kraft Heinz (NASDAQ:KHC) last issued 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 analysts’ expectations of $6.42 billion. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The firm’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, sell-side analysts anticipate that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.15%. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Insider Buying and Selling

In other news, EVP Pedro F. P. Navio sold 45,000 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction 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 $5,626,122.75. This trade represents 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 available through the SEC website. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Kraft Heinz

Several institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC lifted its stake in shares of Kraft Heinz by 249.5% in the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares during the period. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the first quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. grew its position in shares of Kraft Heinz by 1,077.0% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after buying an additional 797 shares during the period. Finally, Asset Dedication LLC increased 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 acquiring an additional 476 shares in the last quarter. 78.17% of the stock is currently owned by institutional investors.

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.