Kraft Heinz (NASDAQ:KHC) Given New $26.00 Price Target at TD Cowen

Kraft Heinz (NASDAQ:KHC) had its price target lowered by TD Cowen from $28.00 to $26.00 in a report published on Thursday,Benzinga reports. The firm currently has a hold rating on the stock.

Other equities research analysts also recently issued reports about the company. Barclays cut their price target on Kraft Heinz from $26.00 to $24.00 in a research report on Thursday. BNP Paribas Exane dropped their target price on Kraft Heinz from $29.00 to $26.00 in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on Kraft Heinz from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Hsbc Global Res raised Kraft Heinz to a “hold” rating in a report on Friday, August 1st. Finally, Piper Sandler lowered their price objective on Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating on the stock in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Kraft Heinz has a consensus rating of “Reduce” and a consensus price target of $26.61.

Kraft Heinz Stock Performance

Shares of NASDAQ KHC opened at $24.58 on Thursday. The company has a 50 day simple moving average of $26.13 and a two-hundred day simple moving average of $27.01. The stock has a market cap of $29.09 billion, a price-to-earnings ratio of -6.59, a PEG ratio of 2.88 and a beta of 0.16. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46. Kraft Heinz has a 12 month low of $24.10 and a 12 month high of $34.08.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Friday, July 8th. The company reported $0.72 earnings per share for the quarter. The firm had revenue of $6.39 billion for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. As a group, analysts predict that Kraft Heinz will post 2.68 earnings per share for the current year.

Kraft Heinz Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 6.5%. The ex-dividend date of this dividend is Friday, November 28th. Kraft Heinz’s dividend payout ratio (DPR) is presently -35.63%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its stake in Kraft Heinz by 12.7% in the 1st quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company’s stock valued at $3,103,277,000 after acquiring an additional 11,472,071 shares during the period. Norges Bank purchased a new position in Kraft Heinz during the second quarter valued at $276,159,000. Pacer Advisors Inc. grew its position in shares of Kraft Heinz by 4,390.7% in the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company’s stock valued at $226,523,000 after purchasing an additional 7,278,295 shares during the period. Nordea Investment Management AB increased its stake in shares of Kraft Heinz by 75.1% during the third quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock worth $351,263,000 after purchasing an additional 5,873,967 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Kraft Heinz by 14.7% during the 2nd quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock worth $681,663,000 after purchasing an additional 3,392,470 shares during the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

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.