Vetr Inc. Lowers Kraft Heinz Co. (KHC) to Buy
Kraft Heinz Co. (NASDAQ:KHC) was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research note issued on Monday. They currently have a $88.44 target price on the stock. Vetr‘s price target points to a potential upside of 7.16% from the company’s current price.
A number of other research analysts also recently commented on KHC. Zacks Investment Research downgraded shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Tuesday, July 26th. Deutsche Bank AG upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $103.00 in a research note on Friday, August 5th. Royal Bank Of Canada increased their price objective on shares of Kraft Heinz from $92.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Morgan Stanley set a $97.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Stifel Nicolaus increased their price objective on shares of Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Two analysts have rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Kraft Heinz presently has an average rating of “Buy” and a consensus target price of $98.96.
Kraft Heinz (NASDAQ:KHC) opened at 82.53 on Monday. The stock’s 50 day moving average is $86.58 and its 200-day moving average is $86.77. Kraft Heinz has a 52 week low of $68.18 and a 52 week high of $90.54. The firm has a market capitalization of $100.46 billion, a price-to-earnings ratio of 36.32 and a beta of 0.48.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Thursday, November 3rd. The company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.09. Kraft Heinz had a net margin of 10.44% and a return on equity of 6.40%. The firm had revenue of $6.27 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same period in the prior year, the firm posted $0.44 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts expect that Kraft Heinz will post $3.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be paid a dividend of $0.60 per share. The ex-dividend date is Wednesday, November 30th. This represents a $2.40 annualized dividend and a yield of 2.91%. Kraft Heinz’s payout ratio is 105.26%.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the firm’s stock in a transaction dated Tuesday, September 20th. The shares were 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 SEC, which is accessible through this hyperlink. Company insiders own 26.92% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. WestEnd Advisors LLC bought a new position in Kraft Heinz during the second quarter valued at approximately $97,332,000. BB&T Corp boosted its position in Kraft Heinz by 3.3% in the second quarter. BB&T Corp now owns 179,104 shares of the company’s stock valued at $15,848,000 after buying an additional 5,659 shares during the last quarter. SG Americas Securities LLC boosted its position in Kraft Heinz by 28.5% in the second quarter. SG Americas Securities LLC now owns 177,614 shares of the company’s stock valued at $15,715,000 after buying an additional 39,342 shares during the last quarter. Ngam Advisors L.P. boosted its position in Kraft Heinz by 5.9% in the second quarter. Ngam Advisors L.P. now owns 178,732 shares of the company’s stock valued at $15,815,000 after buying an additional 9,997 shares during the last quarter. Finally, Redwood Investments LLC bought a new position in Kraft Heinz during the second quarter valued at approximately $14,719,000. 61.58% of the stock is currently owned by hedge funds and other institutional investors.
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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