The Kraft Heinz Company (NASDAQ:KHC) to Issue $0.40 Quarterly Dividend

The Kraft Heinz Company (NASDAQ:KHCGet Rating) announced a quarterly dividend on Wednesday, April 27th, RTT News reports. Investors of record on Friday, May 27th will be given a dividend of 0.40 per share on Friday, June 24th. This represents a $1.60 annualized dividend and a yield of 3.78%.

Kraft Heinz has decreased its dividend payment by an average of 13.8% annually over the last three years. Kraft Heinz has a payout ratio of 59.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Kraft Heinz to earn $2.75 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 58.2%.

KHC stock traded up $0.04 during mid-day trading on Wednesday, reaching $42.35. 34,228 shares of the company’s stock were exchanged, compared to its average volume of 7,355,917. The company has a market cap of $51.87 billion, a price-to-earnings ratio of 51.60, a price-to-earnings-growth ratio of 3.34 and a beta of 0.98. The stock’s 50 day moving average is $39.77 and its 200 day moving average is $37.31. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.99 and a quick ratio of 0.69. Kraft Heinz has a 12-month low of $32.78 and a 12-month high of $44.95.

Kraft Heinz (NASDAQ:KHCGet Rating) last issued its quarterly earnings results on Wednesday, February 16th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.17. The company had revenue of $6.71 billion for the quarter, compared to the consensus estimate of $6.63 billion. Kraft Heinz had a return on equity of 7.21% and a net margin of 3.89%. Kraft Heinz’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.80 earnings per share. On average, research analysts forecast that Kraft Heinz will post 2.64 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of KHC. Marshall Wace LLP grew its stake in shares of Kraft Heinz by 2,558.2% in the fourth quarter. Marshall Wace LLP now owns 140,780 shares of the company’s stock valued at $5,054,000 after buying an additional 135,484 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in Kraft Heinz during the 4th quarter worth about $415,000. Stifel Financial Corp increased its holdings in Kraft Heinz by 8.6% during the 4th quarter. Stifel Financial Corp now owns 482,666 shares of the company’s stock worth $17,329,000 after purchasing an additional 38,289 shares during the period. Metropolitan Life Insurance Co NY increased its holdings in Kraft Heinz by 22.9% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 80,843 shares of the company’s stock worth $2,902,000 after purchasing an additional 15,090 shares during the period. Finally, NEXT Financial Group Inc increased its holdings in Kraft Heinz by 38.2% during the 4th quarter. NEXT Financial Group Inc now owns 22,750 shares of the company’s stock worth $817,000 after purchasing an additional 6,292 shares during the period. 61.51% of the stock is owned by institutional investors and hedge funds.

KHC has been the topic of a number of recent analyst reports. Credit Suisse Group increased their price target on Kraft Heinz from $36.00 to $38.00 and gave the stock an “underperform” rating in a research report on Wednesday, February 23rd. Deutsche Bank Aktiengesellschaft raised their target price on Kraft Heinz from $46.00 to $47.00 and gave the company a “buy” rating in a research report on Wednesday, February 23rd. TheStreet upgraded Kraft Heinz from a “c+” rating to a “b” rating in a research report on Monday, March 28th. StockNews.com initiated coverage on Kraft Heinz in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, UBS Group initiated coverage on Kraft Heinz in a report on Wednesday, March 30th. They issued a “neutral” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $39.88.

Kraft Heinz Company Profile (Get Rating)

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in the United States, Canada, the United Kingdom, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products.

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Dividend History for Kraft Heinz (NASDAQ:KHC)

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