Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $38.00 at Citigroup

Kraft Heinz (NASDAQ:KHC) had its target price reduced by Citigroup from $39.00 to $38.00 in a report published on Thursday morning, Benzinga reports. Citigroup currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the company. Evercore ISI cut their target price on Kraft Heinz from $42.00 to $38.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group cut their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a report on Thursday. Piper Sandler decreased their price target on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating on the stock in a research report on Thursday. Stifel Nicolaus lowered Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price objective for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Finally, Mizuho reduced their target price on Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.25.

Kraft Heinz Trading Up 0.1 %

Shares of KHC stock opened at $33.49 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.53 and a debt-to-equity ratio of 0.40. Kraft Heinz has a 1-year low of $31.58 and a 1-year high of $38.96. The stock has a 50-day moving average of $35.15 and a 200-day moving average of $34.80. The stock has a market cap of $40.50 billion, a price-to-earnings ratio of 30.17, a PEG ratio of 3.49 and a beta of 0.49.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the firm earned $0.72 earnings per share. Kraft Heinz’s revenue was down 2.8% on a year-over-year basis. On average, equities research analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. The ex-dividend date is Friday, November 29th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.78%. Kraft Heinz’s dividend payout ratio is currently 144.14%.

Hedge Funds Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LSV Asset Management lifted its holdings in Kraft Heinz by 2.1% in the second quarter. LSV Asset Management now owns 9,107,688 shares of the company’s stock valued at $293,450,000 after acquiring an additional 189,000 shares during the period. Legal & General Group Plc raised its position in shares of Kraft Heinz by 9.7% during the second quarter. Legal & General Group Plc now owns 9,064,592 shares of the company’s stock valued at $292,061,000 after buying an additional 799,581 shares during the last quarter. Capital World Investors lifted its stake in Kraft Heinz by 83.4% in the 1st quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after purchasing an additional 3,961,872 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Kraft Heinz by 47.3% during the second quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after buying an additional 1,778,263 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Kraft Heinz by 14.2% in the second quarter. AQR Capital Management LLC now owns 4,063,076 shares of the company’s stock valued at $130,912,000 after purchasing an additional 505,180 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

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.