Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $35.00 at Barclays

Kraft Heinz (NASDAQ:KHC) had its target price decreased by Barclays from $36.00 to $35.00 in a research report report published on Friday, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $35.00 in a report on Thursday. Wells Fargo & Company boosted their target price on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America dropped their target price on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating on the stock in a report on Wednesday, July 10th. Piper Sandler dropped their target price on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, The Goldman Sachs Group dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $37.15.

Kraft Heinz Stock Performance

NASDAQ KHC traded up $0.03 during trading hours on Friday, reaching $33.49. The company’s stock had a trading volume of 5,676,568 shares, compared to its average volume of 7,776,126. The company has a current ratio of 1.06, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. The business has a 50-day simple moving average of $35.15 and a 200 day simple moving average of $34.83. Kraft Heinz has a 52 week low of $31.58 and a 52 week high of $38.96. The stock has a market cap of $40.49 billion, a PE ratio of 30.17, a PEG ratio of 3.30 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for 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 business’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.72 earnings per share. Equities research analysts predict that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s payout ratio is 144.14%.

Institutional Investors Weigh In On Kraft Heinz

A number of institutional investors have recently modified their holdings of KHC. 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 last quarter. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz during the 1st quarter worth $27,000. DiNuzzo Private Wealth Inc. increased its holdings 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 purchasing an additional 797 shares during the period. Asset Dedication LLC increased its holdings in shares of Kraft Heinz by 94.8% during the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock worth $32,000 after purchasing an additional 476 shares during the period. Finally, Bangor Savings Bank bought a new position in shares of Kraft Heinz during the 3rd quarter worth about $32,000. Institutional investors and hedge funds 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.