Kraft Heinz (NASDAQ:KHC) Given New $27.00 Price Target at HSBC

Kraft Heinz (NASDAQ:KHC) had its price target decreased by HSBC from $29.00 to $27.00 in a report published on Thursday,MarketScreener reports.

A number of other equities research analysts also recently issued reports on KHC. Wells Fargo & Company cut their price target on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating for the company in a research note on Thursday. The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $30.00 to $27.00 in a research report on Thursday. UBS Group reduced their target price on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday. BNP Paribas Exane dropped their price target on shares of Kraft Heinz from $29.00 to $26.00 in a research note on Thursday. Finally, JPMorgan Chase & Co. reduced their price objective on Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of $26.58.

Kraft Heinz Stock Performance

Shares of KHC opened at $24.74 on Thursday. The company has a market cap of $29.28 billion, a price-to-earnings ratio of -6.63, a P/E/G ratio of 2.88 and a beta of 0.16. The business’s fifty day simple moving average is $26.06 and its two-hundred day simple moving average is $26.96. Kraft Heinz has a 12 month low of $24.10 and a 12 month high of $34.08. 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 (NASDAQ:KHC) last announced its quarterly earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. The firm had revenue of $6.39 billion during the quarter. Research analysts anticipate that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.5%. Kraft Heinz’s payout ratio is -42.90%.

Institutional Investors Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently bought and sold shares of KHC. Rossby Financial LCC bought a new position in shares of Kraft Heinz in the first quarter worth about $29,000. Wayfinding Financial LLC purchased a new position in Kraft Heinz in the 1st quarter worth approximately $33,000. Investment Management Corp VA ADV boosted its stake in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock worth $35,000 after purchasing an additional 669 shares during the period. Rakuten Securities Inc. grew its holdings in Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock valued at $32,000 after buying an additional 788 shares in the last quarter. Finally, Cape Investment Advisory Inc. grew its holdings in Kraft Heinz by 164.7% during the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock valued at $33,000 after buying an additional 807 shares in the last quarter. 78.17% of the stock is 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.