The Kraft Heinz Company (NASDAQ:KHC) Plans $0.40 Quarterly Dividend

The Kraft Heinz Company (NASDAQ:KHC) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Friday, March 7th will be paid a dividend of 0.40 per share on Friday, March 28th. This represents a $1.60 annualized dividend and a dividend yield of 5.59%.

Kraft Heinz has a dividend payout ratio of 50.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kraft Heinz to earn $3.02 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 53.0%.

Kraft Heinz Trading Down 3.2 %

Shares of KHC opened at $28.62 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. Kraft Heinz has a 1-year low of $27.25 and a 1-year high of $38.96. The stock has a market capitalization of $34.61 billion, a P/E ratio of 25.78, a P/E/G ratio of 3.74 and a beta of 0.47. The business’s 50-day moving average price is $30.02 and its 200 day moving average price is $32.83.

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on KHC. Piper Sandler restated a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. Citigroup downgraded Kraft Heinz from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $34.00 to $28.00 in a research note on Thursday. TD Cowen decreased their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. Evercore ISI reiterated 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. Finally, Mizuho lowered shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and reduced their price target for the stock from $38.00 to $31.00 in a research report on Monday. Two investment analysts have rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $32.07.

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.