Kraft Heinz (NASDAQ:KHC) Price Target Cut to $31.00 by Analysts at Piper Sandler

Kraft Heinz (NASDAQ:KHC) had its price objective decreased by Piper Sandler from $35.00 to $31.00 in a research report sent to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other research analysts have also recently issued reports about the stock. Mizuho cut shares of Kraft Heinz from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $38.00 to $31.00 in a report on Monday. Jefferies Financial Group decreased their price objective on shares of Kraft Heinz from $34.00 to $30.00 and set a “hold” rating for the company in a report on Wednesday, January 29th. JPMorgan Chase & Co. cut their target price on Kraft Heinz from $36.00 to $32.00 and set a “neutral” rating on the stock in a research note on Friday, January 31st. Evercore ISI restated an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company dropped their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $31.29.

Kraft Heinz Stock Performance

Kraft Heinz stock opened at $29.25 on Thursday. Kraft Heinz has a twelve month low of $27.25 and a twelve month high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $35.37 billion, a P/E ratio of 26.35, a PEG ratio of 3.74 and a beta of 0.47. The stock’s 50 day moving average is $29.98 and its 200 day moving average is $32.80.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.46% and a net margin of 5.24%. On average, equities research analysts predict that Kraft Heinz will post 3 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.47%. The ex-dividend date is Friday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is presently 144.14%.

Institutional Trading of Kraft Heinz

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock worth $186,350,000 after acquiring an additional 545,504 shares during the last quarter. Banque Cantonale Vaudoise lifted its position in Kraft Heinz by 52.5% during the third quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock valued at $5,988,000 after purchasing an additional 58,665 shares in the last quarter. Brookstone Capital Management grew its holdings in Kraft Heinz by 229.8% during the fourth quarter. Brookstone Capital Management now owns 342,880 shares of the company’s stock valued at $10,530,000 after purchasing an additional 238,913 shares during the period. Easterly Investment Partners LLC increased its position in Kraft Heinz by 39.4% in the third quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock worth $5,529,000 after buying an additional 44,485 shares in the last quarter. Finally, Toronto Dominion Bank raised its stake in shares of Kraft Heinz by 12.6% in the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock worth $17,132,000 after buying an additional 54,656 shares during the period. 78.17% of the stock is currently owned by institutional investors.

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.