Stifel Nicolaus Reiterates “Buy” Rating for Kraft Heinz Co. (KHC)
Kraft Heinz Co. (NASDAQ:KHC)‘s stock had its “buy” rating restated by equities research analysts at Stifel Nicolaus in a research report issued to clients and investors on Tuesday. They currently have a $95.00 target price on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 6.09% from the stock’s previous close.
Other analysts have also issued research reports about the company. Vetr lowered Kraft Heinz from a “strong-buy” rating to a “buy” rating and set a $98.22 price objective for the company. in a research note on Monday, September 19th. Susquehanna dropped their price target on Kraft Heinz from $118.00 to $114.00 and set a “positive” rating for the company in a research note on Friday, August 26th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and issued a $98.00 price target (up previously from $93.00) on shares of Kraft Heinz in a research note on Friday, July 15th. Zacks Investment Research raised Kraft Heinz from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $100.00 price target (up previously from $98.00) on shares of Kraft Heinz in a research note on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. Kraft Heinz presently has a consensus rating of “Buy” and a consensus target price of $99.17.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 89.55 on Tuesday. The firm has a market capitalization of $109.04 billion, a P/E ratio of 65.65 and a beta of 0.47. Kraft Heinz has a 52 week low of $68.18 and a 52 week high of $90.54. The firm’s 50-day moving average is $88.87 and its 200-day moving average is $84.59.
Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.14. The business earned $6.79 billion during the quarter, compared to analyst estimates of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. Kraft Heinz’s revenue for the quarter was up 159.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. Equities analysts anticipate that Kraft Heinz will post $3.24 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, August 26th will be issued a dividend of $0.60 per share. The ex-dividend date of this dividend is Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.68%. Kraft Heinz’s dividend payout ratio (DPR) is presently 181.82%.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 26.92% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Enterprise Financial Services Corp boosted its stake in Kraft Heinz by 8.5% in the second quarter. Enterprise Financial Services Corp now owns 1,280 shares of the company’s stock valued at $113,000 after buying an additional 100 shares during the period. Blue Chip Partners Inc. acquired a new stake in Kraft Heinz during the second quarter valued at approximately $128,000. Iowa State Bank acquired a new stake in Kraft Heinz during the second quarter valued at approximately $129,000. Balentine LLC boosted its stake in Kraft Heinz by 43.3% in the first quarter. Balentine LLC now owns 1,605 shares of the company’s stock valued at $126,000 after buying an additional 485 shares during the period. Finally, Quadrant Capital Group LLC boosted its stake in Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock valued at $135,000 after buying an additional 94 shares during the period. 61.30% of the stock is currently owned by institutional investors.
Kraft Heinz Company Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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