Kraft Heinz (NASDAQ:KHC) Given New $32.00 Price Target at TD Cowen

Kraft Heinz (NASDAQ:KHC) had its price target cut by TD Cowen from $34.00 to $32.00 in a research report sent to investors on Wednesday,Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts have also weighed in on the stock. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and reduced their price objective for the company from $40.00 to $38.00 in a report on Friday, October 25th. Barclays cut their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research note on Friday, November 1st. Wells Fargo & Company lowered their price objective on Kraft Heinz from $35.00 to $31.00 and set an “equal weight” rating for the company in a research note on Tuesday. 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, October 31st. Finally, Piper Sandler reiterated a “neutral” rating and set a $35.00 price target (down previously from $40.00) on shares of Kraft Heinz in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Kraft Heinz presently has an average rating of “Hold” and an average price target of $35.58.

Kraft Heinz Trading Down 0.4 %

KHC opened at $29.66 on Wednesday. The company has a fifty day moving average price of $31.41 and a two-hundred day moving average price of $33.38. Kraft Heinz has a 1-year low of $29.23 and a 1-year high of $38.96. The company has a market cap of $35.86 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. 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 (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share 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 business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period in the prior year, the business earned $0.72 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts predict that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.39%. The ex-dividend date was Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the business’s 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 sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. The trade was a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kraft Heinz

Institutional investors have recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC purchased a new stake in Kraft Heinz during the 3rd quarter worth about $411,304,000. State Street Corp increased its position in shares of Kraft Heinz by 16.7% during the third quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after buying an additional 6,366,732 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Kraft Heinz by 11.3% in the third quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after buying an additional 1,944,019 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Kraft Heinz by 47.3% in the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after acquiring an additional 1,778,263 shares during the period. Finally, Nordea Investment Management AB grew its stake in Kraft Heinz by 16.3% during the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after acquiring an additional 1,238,200 shares in the last quarter. 78.17% of the stock is owned by hedge funds and other 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.