Analysts Set Kraft Heinz Company (NASDAQ:KHC) Price Target at $28.65

Kraft Heinz Company (NASDAQ:KHC) has received a consensus recommendation of “Reduce” from the twenty research firms that are currently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $28.6471.

A number of brokerages have weighed in on KHC. Weiss Ratings restated a “sell (d)” rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. Barclays decreased their target price on Kraft Heinz from $29.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Friday, October 10th. Wells Fargo & Company decreased their target price on Kraft Heinz from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. began coverage on Kraft Heinz in a research note on Wednesday, August 20th. They issued a “neutral” rating and a $27.00 target price on the stock. Finally, Morgan Stanley reduced their price objective on Kraft Heinz from $29.00 to $28.00 in a research report on Thursday, October 16th.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $25.41 on Tuesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07. Kraft Heinz has a 52-week low of $24.80 and a 52-week high of $35.72. The firm has a market cap of $30.08 billion, a price-to-earnings ratio of -5.66, a PEG ratio of 3.00 and a beta of 0.16. The business’s fifty day moving average is $26.37 and its 200 day moving average is $27.15.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. The business had revenue of $6.39 billion for the quarter. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%. Research analysts predict that Kraft Heinz will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were given a dividend of $0.40 per share. The ex-dividend date was Friday, August 29th. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. Kraft Heinz’s dividend payout ratio is -35.63%.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors have recently modified their holdings of the company. Klingenstein Fields & Co. LP increased its position in shares of Kraft Heinz by 4.6% during the 1st quarter. Klingenstein Fields & Co. LP now owns 7,867 shares of the company’s stock valued at $239,000 after purchasing an additional 344 shares during the last quarter. STF Management LP increased its position in shares of Kraft Heinz by 2.1% during the 2nd quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after purchasing an additional 374 shares during the last quarter. Meeder Advisory Services Inc. increased its position in shares of Kraft Heinz by 2.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 15,091 shares of the company’s stock valued at $459,000 after purchasing an additional 393 shares during the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Kraft Heinz by 0.6% during the 1st quarter. Oppenheimer & Co. Inc. now owns 69,058 shares of the company’s stock valued at $2,101,000 after purchasing an additional 397 shares during the last quarter. Finally, one8zero8 LLC boosted its holdings in Kraft Heinz by 5.5% during the 1st quarter. one8zero8 LLC now owns 7,964 shares of the company’s stock valued at $242,000 after acquiring an additional 414 shares during the period. 78.17% of the stock is currently owned by institutional investors.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.