Kraft Heinz Co. (KHC) Receives $99.94 Consensus Target Price from Analysts
Kraft Heinz Co. (NASDAQ:KHC) has received a consensus recommendation of “Buy” from the fifteen brokerages that are covering the company. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, eleven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $99.94.
A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 price target on the stock in a research report on Monday, August 8th. Royal Bank Of Canada increased their price target on shares of Kraft Heinz from $92.00 to $96.00 and gave the company an “outperform” rating in a research report on Friday, August 5th. Credit Suisse Group AG reiterated an “outperform” rating and set a $100.00 price target (up from $98.00) on shares of Kraft Heinz in a research report on Tuesday, August 16th. Argus increased their price target on shares of Kraft Heinz from $91.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, September 28th. Finally, RBC Capital Markets reiterated an “outperform” rating and set a $99.00 price target (up from $96.00) on shares of Kraft Heinz in a research report on Monday, November 7th.
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 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 26.92% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. First American Trust FSB bought a new position in shares of Kraft Heinz during the second quarter valued at $3,766,000. Iowa State Bank bought a new position in shares of Kraft Heinz during the second quarter valued at $129,000. Lebenthal Asset Management LLC bought a new position in shares of Kraft Heinz during the first quarter valued at $739,000. First Republic Investment Management Inc. increased its position in shares of Kraft Heinz by 5.2% in the first quarter. First Republic Investment Management Inc. now owns 28,818 shares of the company’s stock valued at $2,264,000 after buying an additional 1,418 shares during the last quarter. Finally, Cypress Capital Group bought a new position in shares of Kraft Heinz during the first quarter valued at $215,000. Hedge funds and other institutional investors own 61.69% of the company’s stock.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 82.44 on Monday. The stock has a 50 day moving average of $86.12 and a 200 day moving average of $86.85. The company has a market cap of $100.35 billion, a price-to-earnings ratio of 36.29 and a beta of 0.48. Kraft Heinz has a 1-year low of $68.18 and a 1-year high of $90.54.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. Kraft Heinz had a net margin of 10.44% and a return on equity of 6.40%. The business had revenue of $6.27 billion for the quarter, compared to analysts’ expectations of $4.70 billion. During the same period last year, the business earned $0.44 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. Analysts predict that Kraft Heinz will post $3.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 16th. Shareholders of record on Friday, December 2nd will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.91%. The ex-dividend date of this dividend is Wednesday, November 30th. Kraft Heinz’s dividend payout ratio is currently 105.26%.
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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