Kraft Heinz (NASDAQ:KHC) Price Target Cut to $31.00 by Analysts at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC) had its target price decreased by Wells Fargo & Company from $35.00 to $31.00 in a research note published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other analysts have also weighed in on the company. The Goldman Sachs Group decreased their price target on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. Citigroup reduced their price objective on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Mizuho dropped their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the stock from $40.00 to $38.00 in a research note on Friday, October 25th. Finally, Barclays reduced their target price 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Kraft Heinz currently has a consensus rating of “Hold” and an average target price of $35.91.

Kraft Heinz Price Performance

Shares of Kraft Heinz stock opened at $29.77 on Tuesday. 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 12 month low of $29.71 and a 12 month high of $38.96. The stock has a 50 day moving average of $31.49 and a 200 day moving average of $33.41. The firm has a market cap of $36.00 billion, a PE ratio of 26.82, a PEG ratio of 3.62 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last posted its 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 firm had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Kraft Heinz’s revenue for the quarter was down 2.8% compared to the same quarter last year. During the same period last year, the firm posted $0.72 earnings per share. On average, research analysts expect that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, November 29th were issued a $0.40 dividend. The ex-dividend date was Friday, November 29th. This represents a $1.60 annualized dividend and a dividend yield of 5.37%. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Insider Activity at Kraft Heinz

In other news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by corporate insiders.

Institutional Trading of Kraft Heinz

A number of institutional investors have recently modified their holdings of KHC. State Street Corp boosted its stake in Kraft Heinz by 16.7% in the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after acquiring an additional 6,366,732 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new position in Kraft Heinz during the 3rd quarter worth $411,304,000. Legal & General Group Plc increased its position in Kraft Heinz by 9.7% during the 2nd quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after buying an additional 799,581 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock worth $269,906,000 after acquiring an additional 1,238,200 shares in the last quarter. 78.17% of the stock is currently 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.