Kraft Heinz (NASDAQ:KHC) Hits New 52-Week Low – Should You Sell?

Shares of Kraft Heinz Company (NASDAQ:KHC) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $23.60 and last traded at $23.6650, with a volume of 3063323 shares. The stock had previously closed at $23.77.

Analysts Set New Price Targets

Several analysts have issued reports on KHC shares. The Goldman Sachs Group lowered their target price on shares of Kraft Heinz from $30.00 to $27.00 in a research note on Thursday, October 30th. TD Cowen decreased their price objective on Kraft Heinz from $28.00 to $26.00 and set a “hold” rating on the stock in a report on Thursday, October 30th. Piper Sandler upped their target price on Kraft Heinz from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Monday, December 15th. Zacks Research upgraded shares of Kraft Heinz from a “strong sell” rating to a “hold” rating in a report on Thursday, January 1st. Finally, DZ Bank raised shares of Kraft Heinz from a “hold” rating to a “strong-buy” rating in a report on Friday, September 19th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $26.63.

Kraft Heinz Stock Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13. The stock has a market capitalization of $27.83 billion, a P/E ratio of -6.30 and a beta of 0.09. The business has a 50-day moving average price of $24.60 and a 200 day moving average price of $25.97.

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

Kraft Heinz Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 26th. Shareholders of record on Friday, November 28th were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a yield of 6.8%. Kraft Heinz’s dividend payout ratio is currently -42.90%.

Insider Activity at Kraft Heinz

In other news, insider Miguel Patricio sold 125,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $24.82, for a total value of $3,102,500.00. Following the transaction, the insider owned 686,817 shares in the company, valued at $17,046,797.94. This represents a 15.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Kraft Heinz

A number of hedge funds have recently made changes to their positions in the business. STF Management LP increased its holdings in Kraft Heinz by 2.1% in the 2nd quarter. STF Management LP now owns 18,475 shares of the company’s stock valued at $477,000 after acquiring an additional 374 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Kraft Heinz by 15.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 3,219 shares of the company’s stock valued at $84,000 after buying an additional 431 shares in the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Kraft Heinz by 13.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 3,894 shares of the company’s stock worth $101,000 after acquiring an additional 460 shares in the last quarter. Barrett & Company Inc. boosted its position in shares of Kraft Heinz by 22.7% during the 3rd quarter. Barrett & Company Inc. now owns 2,700 shares of the company’s stock valued at $70,000 after acquiring an additional 500 shares during the last quarter. Finally, Bill Few Associates Inc. grew its holdings in shares of Kraft Heinz by 0.6% in the second quarter. Bill Few Associates Inc. now owns 88,026 shares of the company’s stock valued at $2,273,000 after purchasing an additional 516 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.