Kraft Heinz (NASDAQ:KHC) Given a $29.00 Price Target at Mizuho

Mizuho set a $29.00 price target on Kraft Heinz (NASDAQ:KHC - Free Report) in a report released on Wednesday morning, Marketbeat reports. The firm currently has a neutral rating on the stock.

KHC has been the subject of several other reports. Sanford C. Bernstein downgraded shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and cut their target price for the company from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Cfra Research downgraded shares of Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research note on Wednesday, April 16th. Stifel Nicolaus cut their target price on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a research note on Wednesday, April 30th. Bank of America downgraded shares of Kraft Heinz from a "buy" rating to an "underperform" rating and cut their target price for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Finally, The Goldman Sachs Group cut their target price on shares of Kraft Heinz from $32.00 to $28.00 and set a "sell" rating for the company in a research note on Thursday, February 13th. Four research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $30.53.

Kraft Heinz Stock Down 1.0%

Shares of Kraft Heinz stock traded down $0.27 during trading hours on Wednesday, reaching $26.75. 17,507,338 shares of the company's stock were exchanged, compared to its average volume of 9,476,480. The company has a 50 day moving average of $28.61 and a two-hundred day moving average of $29.76. Kraft Heinz has a fifty-two week low of $26.01 and a fifty-two week high of $36.53. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The stock has a market cap of $31.66 billion, a P/E ratio of 11.84, a P/E/G ratio of 3.39 and a beta of 0.30.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. The company had revenue of $6 billion during the quarter, compared to the consensus estimate of $6.02 billion. During the same period in the prior year, the business posted $0.69 EPS. The company's quarterly revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts forecast that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 5.98%. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KHC. Fifth Third Bancorp increased its holdings in shares of Kraft Heinz by 4.5% during the fourth quarter. Fifth Third Bancorp now owns 26,688 shares of the company's stock worth $820,000 after purchasing an additional 1,147 shares during the period. Kingswood Wealth Advisors LLC bought a new position in shares of Kraft Heinz during the fourth quarter worth approximately $205,000. Blue Trust Inc. increased its holdings in shares of Kraft Heinz by 31.9% during the fourth quarter. Blue Trust Inc. now owns 12,388 shares of the company's stock worth $380,000 after purchasing an additional 2,993 shares during the period. Perigon Wealth Management LLC bought a new position in shares of Kraft Heinz during the fourth quarter worth approximately $287,000. Finally, Stonegate Investment Group LLC increased its holdings in shares of Kraft Heinz by 6.5% during the fourth quarter. Stonegate Investment Group LLC now owns 28,232 shares of the company's stock worth $867,000 after purchasing an additional 1,730 shares during the period. 78.17% of the stock is owned by institutional investors.

Kraft Heinz Company Profile

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.