Kraft Heinz (NASDAQ:KHC) Hits New 52-Week Low - Here's What Happened

Shares of Kraft Heinz Company (NASDAQ:KHC - Get Free Report) reached a new 52-week low during mid-day trading on Friday . The stock traded as low as $25.45 and last traded at $25.64, with a volume of 15177492 shares trading hands. The stock had previously closed at $25.79.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on KHC shares. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a "neutral" rating in a research report on Wednesday, May 28th. Citigroup restated a "sell" rating and set a $27.00 price target (down previously from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Morgan Stanley assumed coverage on Kraft Heinz in a research report on Monday, March 24th. They issued an "underweight" rating and a $29.00 price target on the stock. The Goldman Sachs Group raised Kraft Heinz from a "sell" rating to a "neutral" rating and boosted their price objective for the stock from $25.00 to $27.00 in a research report on Wednesday, June 25th. Finally, Cfra Research cut shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Three research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $30.47.

Kraft Heinz Stock Up 0.8%

The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31. The firm's 50-day moving average is $27.30 and its 200 day moving average is $29.00. The firm has a market capitalization of $30.56 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 3.00 and a beta of 0.27.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The firm had revenue of $6 billion for the quarter, compared to analysts' expectations of $6.02 billion. During the same quarter in the prior year, the firm earned $0.69 EPS. Kraft Heinz's quarterly revenue was down 6.4% on a year-over-year basis. As a group, research analysts forecast that Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.20%. The ex-dividend date was Friday, May 30th. Kraft Heinz's payout ratio is 73.06%.

Institutional Trading of Kraft Heinz

Several institutional investors have recently made changes to their positions in KHC. Headlands Technologies LLC acquired a new stake in Kraft Heinz during the 4th quarter worth approximately $2,048,000. Versant Capital Management Inc grew its stake in Kraft Heinz by 493.4% during the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company's stock worth $376,000 after buying an additional 10,272 shares during the period. Farther Finance Advisors LLC increased its position in shares of Kraft Heinz by 58.3% in the first quarter. Farther Finance Advisors LLC now owns 22,111 shares of the company's stock worth $671,000 after acquiring an additional 8,144 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of Kraft Heinz by 35.4% in the 1st quarter. Park Avenue Securities LLC now owns 26,041 shares of the company's stock valued at $792,000 after acquiring an additional 6,815 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Kraft Heinz in the 4th quarter valued at $39,339,000. 78.17% of the stock is owned by hedge funds and other 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.