Kraft Heinz Co. (KHC) Upgraded to Strong-Buy at Vetr Inc.
Vetr upgraded shares of Kraft Heinz Co. (NASDAQ:KHC) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning. The brokerage currently has $98.22 target price on the stock.
A number of other research firms have also commented on KHC. Susquehanna reaffirmed a buy rating on shares of Kraft Heinz in a research report on Monday, August 22nd. Goldman Sachs Group Inc. reaffirmed a buy rating and set a $100.00 price target on shares of Kraft Heinz in a research report on Saturday, August 13th. Argus raised their price target on Kraft Heinz from $91.00 to $96.00 and gave the stock a buy rating in a research report on Wednesday, September 28th. Credit Suisse Group AG reaffirmed an outperform rating and set a $100.00 price target (up previously from $98.00) on shares of Kraft Heinz in a research report on Tuesday, August 16th. Finally, JPMorgan Chase & Co. reaffirmed a focus list rating on shares of Kraft Heinz in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, twelve have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $99.17.
Shares of Kraft Heinz (NASDAQ:KHC) traded down 0.362% during midday trading on Thursday, reaching $87.173. The company’s stock had a trading volume of 462,878 shares. The company has a 50-day moving average price of $88.71 and a 200-day moving average price of $85.00. The firm has a market cap of $106.15 billion, a price-to-earnings ratio of 63.910 and a beta of 0.47. Kraft Heinz has a 12 month low of $68.18 and a 12 month high of $90.54.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. The company had revenue of $6.79 billion for 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 was up 159.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. Equities analysts expect that Kraft Heinz will post $3.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be issued a $0.60 dividend. The ex-dividend date of this dividend is Wednesday, August 24th. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a yield of 2.74%. Kraft Heinz’s payout ratio is currently 181.82%.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of Kraft Heinz stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 26.92% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. First American Bank boosted its position in shares of Kraft Heinz by 2.9% in the third quarter. First American Bank now owns 55,126 shares of the company’s stock valued at $4,934,000 after buying an additional 1,567 shares in the last quarter. Swarthmore Group Inc. acquired a new position in Kraft Heinz during the third quarter worth approximately $22,730,000. First American Trust FSB boosted its position in Kraft Heinz by 2.9% in the third quarter. First American Trust FSB now owns 43,783 shares of the company’s stock worth $3,919,000 after buying an additional 1,218 shares during the period. Fulton Bank N.A. boosted its position in Kraft Heinz by 14.5% in the third quarter. Fulton Bank N.A. now owns 39,094 shares of the company’s stock worth $3,499,000 after buying an additional 4,964 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Kraft Heinz by 232.6% in the third quarter. BNP Paribas Arbitrage SA now owns 862,816 shares of the company’s stock worth $77,231,000 after buying an additional 603,422 shares during the period. 61.30% of the stock is owned by hedge funds and other 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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