Piper Sandler Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $40.00

Kraft Heinz (NASDAQ:KHC) had its price target decreased by Piper Sandler from $41.00 to $40.00 in a research report report published on Thursday, Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

Other equities analysts have also recently issued reports about the stock. Barclays raised their target price on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and reduced their target price for the stock from $40.00 to $38.00 in a report on Friday, October 25th. Wells Fargo & Company increased their price target on Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Evercore ISI decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, July 31st. Finally, Bank of America lowered their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a research report on Wednesday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $37.25.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $33.49 on Thursday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.53. Kraft Heinz has a 1 year low of $31.58 and a 1 year high of $38.96. The firm has a fifty day moving average price of $35.15 and a 200-day moving average price of $34.80. The stock has a market cap of $40.50 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 3.49 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. The company had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. During the same period in the previous year, the firm earned $0.72 EPS. The firm’s revenue was down 2.8% compared to the same quarter last year. Equities analysts anticipate that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. MADDEN SECURITIES Corp increased its stake in shares of Kraft Heinz by 2.4% during the third quarter. MADDEN SECURITIES Corp now owns 12,756 shares of the company’s stock valued at $448,000 after buying an additional 303 shares during the period. HB Wealth Management LLC increased its position in Kraft Heinz by 2.5% during the 2nd quarter. HB Wealth Management LLC now owns 13,013 shares of the company’s stock valued at $419,000 after purchasing an additional 314 shares during the period. Axiom Advisory LLC raised its holdings in shares of Kraft Heinz by 5.2% in the 3rd quarter. Axiom Advisory LLC now owns 6,594 shares of the company’s stock valued at $227,000 after purchasing an additional 327 shares in the last quarter. Lorne Steinberg Wealth Management Inc. lifted its position in shares of Kraft Heinz by 0.3% in the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 109,600 shares of the company’s stock worth $4,044,000 after purchasing an additional 335 shares during the period. Finally, Norden Group LLC boosted its stake in shares of Kraft Heinz by 3.8% during the second quarter. Norden Group LLC now owns 9,321 shares of the company’s stock valued at $300,000 after purchasing an additional 339 shares in the last quarter. Hedge funds and other 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.