Kraft Heinz (NASDAQ:KHC) PT Raised to $42.00

Kraft Heinz (NASDAQ:KHC) had its price objective increased by Bank of America from $40.00 to $42.00 in a research report report published on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. Citigroup assumed coverage on Kraft Heinz in a research note on Thursday, February 1st. They set a buy rating and a $43.00 target price on the stock. Wells Fargo & Company lowered their price target on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating on the stock in a report on Thursday, February 15th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Kraft Heinz currently has an average rating of Hold and a consensus price target of $40.57.

Kraft Heinz Stock Performance

Shares of KHC opened at $37.11 on Monday. The business’s fifty day simple moving average is $35.87 and its two-hundred day simple moving average is $35.36. The company has a current ratio of 0.99, a quick ratio of 0.54 and a debt-to-equity ratio of 0.39. Kraft Heinz has a 12 month low of $30.68 and a 12 month high of $41.47. The company has a market cap of $45.11 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 2.89 and a beta of 0.67.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, beating the consensus estimate of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The business had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.99 billion. During the same period last year, the business posted $0.85 EPS. The company’s revenue was down 7.1% compared to the same quarter last year. Research analysts anticipate that Kraft Heinz will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 annualized dividend and a yield of 4.31%. Kraft Heinz’s dividend payout ratio is currently 69.26%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Ancora Advisors LLC boosted its position in shares of Kraft Heinz by 69.9% during the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after buying an additional 272 shares during the period. Steward Partners Investment Solutions LLC purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $25,000. Riverview Trust Co purchased a new position in shares of Kraft Heinz during the third quarter valued at approximately $27,000. OFI Invest Asset Management purchased a new position in shares of Kraft Heinz during the third quarter valued at approximately $26,000. Finally, O Dell Group LLC purchased a new position in shares of Kraft Heinz during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

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.