Kraft Heinz (NASDAQ:KHC) Price Target Raised to $22.00

Kraft Heinz (NASDAQ:KHC) had its price target hoisted by JPMorgan Chase & Co. from $21.00 to $22.00 in a research note released on Wednesday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other equities analysts have also recently weighed in on the company. BTIG Research started coverage on Kraft Heinz in a research note on Monday, April 13th. They issued a “neutral” rating on the stock. BNP Paribas Exane upped their price objective on shares of Kraft Heinz from $17.00 to $19.00 and gave the company an “underperform” rating in a research note on Tuesday, June 30th. UBS Group raised their target price on shares of Kraft Heinz from $23.00 to $24.00 and gave the stock a “neutral” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kraft Heinz from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Kraft Heinz from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $23.12.

Kraft Heinz Stock Performance

KHC opened at $25.88 on Wednesday. The firm has a market cap of $30.69 billion, a PE ratio of -5.33 and a beta of 0.09. The company has a quick ratio of 0.82, a current ratio of 1.20 and a debt-to-equity ratio of 0.46. The business has a fifty day simple moving average of $23.91 and a 200-day simple moving average of $23.52. Kraft Heinz has a fifty-two week low of $21.03 and a fifty-two week high of $29.19.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 6th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 23.05%.The business had revenue of $6.05 billion for the quarter, compared to analysts’ expectations of $5.89 billion. During the same period in the previous year, the firm posted $0.62 EPS. The company’s quarterly revenue was up .8% on a year-over-year basis. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. As a group, equities analysts predict that Kraft Heinz will post 2.07 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 5th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Friday, June 5th. Kraft Heinz’s payout ratio is presently -32.92%.

Insider Transactions at Kraft Heinz

In related news, insider Diana Frost sold 18,502 shares of the stock in a transaction dated Thursday, June 18th. The stock was sold at an average price of $23.05, for a total value of $426,471.10. Following the completion of the sale, the insider directly owned 102,667 shares of the company’s stock, valued at approximately $2,366,474.35. This represents a 15.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently bought and sold shares of KHC. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Kraft Heinz during the first quarter worth approximately $27,000. Jessup Wealth Management Inc acquired a new position in Kraft Heinz in the 4th quarter valued at approximately $27,000. Reflection Asset Management purchased a new stake in Kraft Heinz in the 4th quarter worth approximately $28,000. Key Capital Management INC purchased a new stake in Kraft Heinz in the 4th quarter worth approximately $29,000. Finally, DV Equities LLC acquired a new stake in shares of Kraft Heinz during the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

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.