Wells Fargo & Company Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $23.00

Kraft Heinz (NASDAQ:KHC) had its target price trimmed by Wells Fargo & Company from $25.00 to $23.00 in a report issued on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also commented on the stock. Mizuho reduced their price target on shares of Kraft Heinz from $27.00 to $25.00 and set a “neutral” rating on the stock in a research report on Monday, February 23rd. JPMorgan Chase & Co. downgraded Kraft Heinz from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $24.00 to $22.00 in a report on Thursday, February 12th. The Goldman Sachs Group set a $23.00 price target on Kraft Heinz in a report on Thursday, February 12th. TD Cowen reissued a “hold” rating on shares of Kraft Heinz in a research note on Thursday, February 12th. Finally, Barclays raised their target price on Kraft Heinz from $24.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $24.78.

Kraft Heinz Stock Up 1.1%

Shares of NASDAQ KHC opened at $22.58 on Thursday. The stock has a market cap of $26.73 billion, a PE ratio of -4.57 and a beta of 0.06. The business has a fifty day moving average of $23.91 and a two-hundred day moving average of $24.83. Kraft Heinz has a 52-week low of $21.99 and a 52-week high of $31.15. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.79 and a current ratio of 1.15.

Kraft Heinz (NASDAQ:KHC) last posted 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. The business had revenue of $6.35 billion for the quarter, compared to analyst estimates of $6.38 billion. Kraft Heinz had a negative net margin of 23.44% and a positive return on equity of 7.07%. The firm’s quarterly revenue was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.84 EPS. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. As a group, equities research analysts expect that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 6th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, March 6th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.1%. Kraft Heinz’s payout ratio is presently -32.39%.

Insider Activity

In other news, insider Cory Onell sold 9,045 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $24.61, for a total value of $222,597.45. Following the transaction, the insider owned 202,454 shares of the company’s stock, valued at approximately $4,982,392.94. This trade represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Miguel Patricio sold 125,000 shares of Kraft Heinz stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $24.82, for a total transaction of $3,102,500.00. Following the sale, the insider owned 686,817 shares of the company’s stock, valued at approximately $17,046,797.94. This represents a 15.40% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 139,036 shares of company stock worth $3,446,578. 0.35% of the stock is owned by company insiders.

Institutional Trading of Kraft Heinz

Institutional investors have recently bought and sold shares of the business. Jessup Wealth Management Inc bought a new position in shares of Kraft Heinz in the 4th quarter worth $27,000. Reflection Asset Management bought a new position in Kraft Heinz during the fourth quarter worth about $28,000. Key Capital Management INC acquired a new position in shares of Kraft Heinz during the 4th quarter worth about $29,000. DV Equities LLC acquired a new stake in shares of Kraft Heinz in the 4th quarter valued at approximately $29,000. Finally, New England Capital Financial Advisors LLC boosted its stake in Kraft Heinz by 70.2% during the 4th quarter. New England Capital Financial Advisors LLC now owns 1,239 shares of the company’s stock worth $30,000 after acquiring an additional 511 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.