Kraft Heinz (NASDAQ:KHC) Price Target Raised to $42.00 at Bank of America

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

A number of other analysts have also issued reports on KHC. Citigroup initiated coverage on Kraft Heinz in a report on Thursday, February 1st. They issued a buy rating and a $43.00 price target for the company. Wells Fargo & Company lowered their price target on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating for the company 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 company. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $40.71.

Kraft Heinz Stock Up 1.0 %

Shares of NASDAQ KHC opened at $36.31 on Monday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.54 and a current ratio of 0.99. The firm has a market capitalization of $44.14 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 2.84 and a beta of 0.67. The stock has a 50 day moving average price of $35.86 and a 200 day moving average price of $35.30. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $41.47.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.99 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. Kraft Heinz’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. Sell-side analysts expect that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 8th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Thursday, March 7th. Kraft Heinz’s payout ratio is presently 69.26%.

Hedge Funds Weigh In On Kraft Heinz

Large investors have recently made changes to their positions in the business. Ancora Advisors LLC increased 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 worth $26,000 after purchasing an additional 272 shares in the last quarter. Steward Partners Investment Solutions LLC acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $25,000. Riverview Trust Co acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at $27,000. OFI Invest Asset Management acquired a new position in shares of Kraft Heinz in the 3rd quarter valued at $26,000. Finally, O Dell Group LLC acquired a new position in shares of Kraft Heinz in the 4th quarter valued at $31,000. 78.17% of the stock is owned by institutional investors and hedge funds.

About Kraft Heinz

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.