Kraft Heinz (NASDAQ:KHC) Given New $38.00 Price Target at Bank of America

Kraft Heinz (NASDAQ:KHCFree Report) had its price objective lowered by Bank of America from $42.00 to $38.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research firms have also commented on KHC. Piper Sandler decreased their price target on Kraft Heinz from $42.00 to $41.00 and set an overweight rating on the stock in a research report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft increased their price target on Kraft Heinz from $42.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Finally, Wells Fargo & Company decreased their price target on Kraft Heinz from $37.00 to $34.00 and set an equal weight rating on the stock in a research report on Thursday, June 27th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $39.42.

Get Our Latest Stock Analysis on Kraft Heinz

Kraft Heinz Trading Down 0.0 %

Shares of KHC opened at $31.92 on Wednesday. Kraft Heinz has a 1 year low of $30.68 and a 1 year high of $38.96. The company has a current ratio of 1.09, a quick ratio of 0.61 and a debt-to-equity ratio of 0.40. The stock has a 50 day simple moving average of $34.21 and a 200-day simple moving average of $35.77. The stock has a market cap of $38.76 billion, a PE ratio of 13.94, a PEG ratio of 2.59 and a beta of 0.53.

Kraft Heinz (NASDAQ:KHCGet Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. Kraft Heinz’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.68 EPS. On average, sell-side analysts predict that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, June 6th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.60 annualized dividend and a dividend yield of 5.01%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Transactions at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the transaction, the insider now directly owns 158,266 shares in the company, valued at approximately $5,689,662.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.37% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in KHC. Capital World Investors raised its stake in Kraft Heinz by 83.4% during the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in Kraft Heinz by 346.9% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after buying an additional 1,179,863 shares during the period. Nordea Investment Management AB raised its stake in Kraft Heinz by 56.7% during the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock worth $104,929,000 after buying an additional 1,027,636 shares during the period. Swedbank AB acquired a new stake in Kraft Heinz during the 1st quarter worth $25,298,000. Finally, Ilex Capital Partners UK LLP raised its stake in Kraft Heinz by 34.7% during the 1st quarter. Ilex Capital Partners UK LLP now owns 2,616,278 shares of the company’s stock worth $96,541,000 after buying an additional 674,436 shares during the period. 78.17% of the stock is currently owned by institutional investors.

About Kraft Heinz

(Get Free Report)

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.

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