Kraft Heinz Co. (KHC) Receives “Focus List” Rating from JPMorgan Chase & Co.
Several other analysts also recently weighed in on the company. Vetr downgraded Kraft Heinz from a strong-buy rating to a buy rating and set a $98.22 target price on the stock. in a research note on Monday, September 19th. Susquehanna cut their target price on Kraft Heinz from $118.00 to $114.00 and set a positive rating on the stock in a research note on Friday, August 26th. Goldman Sachs Group Inc. reaffirmed a conviction-buy rating and set a $98.00 target price (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 set a $100.00 target price (up previously from $98.00) on shares of Kraft Heinz in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Kraft Heinz currently has an average rating of Buy and an average target price of $99.17.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 88.02 on Tuesday. Kraft Heinz has a 1-year low of $68.18 and a 1-year high of $90.54. The firm has a market cap of $107.18 billion, a price-to-earnings ratio of 64.53 and a beta of 0.47. The company’s 50 day moving average price is $88.81 and its 200-day moving average price is $84.96.
Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.14. The firm had revenue of $6.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The firm’s revenue for the quarter was up 159.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.92 EPS. Equities analysts expect that Kraft Heinz will post $3.24 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Friday, August 26th will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Wednesday, August 24th. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s payout ratio is currently 181.82%.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 26.92% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Envestnet Asset Management Inc. boosted its position in Kraft Heinz by 22.6% in the first quarter. Envestnet Asset Management Inc. now owns 353,441 shares of the company’s stock valued at $27,766,000 after buying an additional 65,072 shares during the period. Natixis boosted its position in Kraft Heinz by 214.4% in the first quarter. Natixis now owns 352,559 shares of the company’s stock valued at $27,696,000 after buying an additional 240,411 shares during the period. GW&K Investment Management LLC boosted its position in Kraft Heinz by 0.5% in the second quarter. GW&K Investment Management LLC now owns 308,403 shares of the company’s stock valued at $27,287,000 after buying an additional 1,678 shares during the period. Nisa Investment Advisors LLC boosted its position in Kraft Heinz by 4.0% in the second quarter. Nisa Investment Advisors LLC now owns 192,380 shares of the company’s stock valued at $17,022,000 after buying an additional 7,340 shares during the period. Finally, British Airways Pensions Investment Management Ltd purchased a new position in Kraft Heinz during the second quarter valued at approximately $25,161,000. 61.30% of the stock is owned by institutional investors and hedge funds.
About Kraft Heinz
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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