Kraft Heinz (NASDAQ:KHC) Price Target Cut to $23.00 by Analysts at UBS Group

Kraft Heinz (NASDAQ:KHC) had its price objective trimmed by UBS Group from $25.00 to $23.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other brokerages have also recently weighed in on KHC. JPMorgan Chase & Co. lowered their target price on Kraft Heinz from $22.00 to $21.00 and set an “underweight” rating for the company in a report on Wednesday, March 25th. Morgan Stanley reiterated an “underweight” rating and issued a $23.00 target price on shares of Kraft Heinz in a report on Tuesday, February 17th. The Goldman Sachs Group set a $23.00 target price on Kraft Heinz in a report on Thursday, February 12th. Jefferies Financial Group reduced their price target on Kraft Heinz from $23.00 to $20.00 and set a “hold” rating for the company in a research report on Monday, March 30th. Finally, Sanford C. Bernstein upped their price objective on Kraft Heinz from $24.00 to $27.00 and gave the stock a “market perform” rating in a research note on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Hold rating and five have issued a Sell rating to the stock. According to MarketBeat, Kraft Heinz presently has a consensus rating of “Reduce” and a consensus price target of $23.59.

Kraft Heinz Price Performance

Shares of KHC stock opened at $23.18 on Tuesday. Kraft Heinz has a twelve month low of $21.03 and a twelve month high of $30.42. The stock has a market capitalization of $27.44 billion, a price-to-earnings ratio of -4.69 and a beta of 0.07. The stock has a fifty day simple moving average of $23.49 and a two-hundred day simple moving average of $24.27. The company has a current ratio of 1.15, a quick ratio of 0.79 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, February 11th. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.06. Kraft Heinz had a positive return on equity of 7.07% and a negative net margin of 23.44%.The business had revenue of $6.35 billion during the quarter, compared to analysts’ expectations of $6.38 billion. During the same period in the prior year, the business earned $0.84 EPS. The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, analysts predict that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 27th. Investors of record on Friday, March 6th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date was Friday, March 6th. Kraft Heinz’s dividend payout ratio is -32.39%.

Insider Buying and Selling at Kraft Heinz

In related news, insider Cory Onell sold 4,991 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $24.34, for a total transaction of $121,480.94. Following the completion of the sale, the insider directly owned 197,463 shares in the company, valued at $4,806,249.42. This represents a 2.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in KHC. Auto Owners Insurance Co increased its position in Kraft Heinz by 3,034.1% during the 4th quarter. Auto Owners Insurance Co now owns 16,477,002 shares of the company’s stock valued at $39,957,000 after buying an additional 15,951,271 shares in the last quarter. Norges Bank acquired a new position in Kraft Heinz during the 4th quarter valued at about $332,382,000. Nordea Investment Management AB increased its position in Kraft Heinz by 75.1% during the 3rd quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock valued at $351,263,000 after buying an additional 5,873,967 shares in the last quarter. Barclays PLC increased its position in Kraft Heinz by 77.8% during the 4th quarter. Barclays PLC now owns 8,973,146 shares of the company’s stock valued at $217,599,000 after buying an additional 3,926,141 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Kraft Heinz by 10.5% in the fourth quarter. Invesco Ltd. now owns 19,725,662 shares of the company’s stock valued at $478,347,000 after purchasing an additional 1,870,310 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.