Morgan Stanley Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $27.00

Kraft Heinz (NASDAQ:KHC) had its price objective reduced by Morgan Stanley from $28.00 to $27.00 in a research note released on Thursday morning,MarketScreener reports. They currently have an equal weight rating on the stock.

Other research analysts have also issued research reports about the company. Piper Sandler decreased their target price on Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday. Jefferies Financial Group decreased their price objective on shares of Kraft Heinz from $28.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, October 15th. Weiss Ratings reissued a “sell (d)” rating on shares of Kraft Heinz in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Kraft Heinz from $28.00 to $27.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. Finally, Mizuho lowered their price objective on shares of Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating for the company in a research report on Tuesday, October 28th. 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, the stock currently has an average rating of “Reduce” and a consensus target price of $26.56.

Kraft Heinz Price Performance

Shares of KHC stock opened at $24.74 on Thursday. The firm has a fifty day moving average of $26.06 and a two-hundred day moving average of $26.96. The firm has a market cap of $29.28 billion, a P/E ratio of -6.63, a P/E/G ratio of 2.88 and a beta of 0.16. Kraft Heinz has a 1-year low of $24.10 and a 1-year high of $34.08. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. The business 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, 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 declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis 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 -42.90%.

Hedge Funds Weigh In On Kraft Heinz

Several large investors have recently made changes to their positions in the business. Rossby Financial LCC acquired a new position in Kraft Heinz in the first quarter worth approximately $29,000. Rakuten Securities Inc. boosted its stake in shares of Kraft Heinz by 172.4% during the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after acquiring an additional 788 shares in the last quarter. Wayfinding Financial LLC acquired a new position in shares of Kraft Heinz in the 1st quarter worth $33,000. Cape Investment Advisory Inc. raised its position in shares of Kraft Heinz by 164.7% during the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after purchasing an additional 807 shares during the period. Finally, Investment Management Corp VA ADV lifted its holdings in shares of Kraft Heinz by 141.7% during the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after purchasing an additional 669 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

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.