Kraft Heinz (NASDAQ:KHC) Price Target Raised to $29.00

Kraft Heinz (NASDAQ:KHC - Free Report) had its price target raised by Wells Fargo & Company from $27.00 to $29.00 in a research note published on Monday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research analysts have also commented on KHC. Cfra Research lowered Kraft Heinz from a "moderate buy" rating to a "hold" rating in a research report on Wednesday, April 16th. Morgan Stanley began coverage on shares of Kraft Heinz in a research note on Monday, March 24th. They set an "underweight" rating and a $29.00 price objective on the stock. The Goldman Sachs Group upgraded shares of Kraft Heinz from a "sell" rating to a "neutral" rating and raised their price objective for the company from $25.00 to $27.00 in a research report on Wednesday, June 25th. Stifel Nicolaus reduced their target price on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Finally, Sanford C. Bernstein cut shares of Kraft Heinz from an "outperform" rating to a "market perform" rating and lowered their price objective for the stock from $34.00 to $31.00 in a research report on Tuesday, April 22nd. Three investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company's stock. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of "Hold" and a consensus price target of $30.41.

Kraft Heinz Price Performance

Kraft Heinz stock traded up $0.66 during midday trading on Monday, reaching $27.80. The company's stock had a trading volume of 37,255,006 shares, compared to its average volume of 12,213,592. Kraft Heinz has a fifty-two week low of $25.44 and a fifty-two week high of $36.53. 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 has a market capitalization of $32.90 billion, a PE ratio of 12.69, a P/E/G ratio of 3.17 and a beta of 0.25. The stock's 50 day simple moving average is $26.74 and its 200 day simple moving average is $28.70.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.60 by $0.02. The company had revenue of $6 billion for the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a return on equity of 7.37% and a net margin of 10.44%. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 EPS. On average, equities research analysts forecast that Kraft Heinz will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, May 30th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.76%. The ex-dividend date of this dividend was Friday, May 30th. Kraft Heinz's dividend payout ratio is 73.06%.

Hedge Funds Weigh In On Kraft Heinz

Several large investors have recently made changes to their positions in KHC. Vanguard Group Inc. raised its stake in shares of Kraft Heinz by 19.9% in the 4th quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after buying an additional 14,996,486 shares in the last quarter. Norges Bank bought a new stake in Kraft Heinz in the fourth quarter valued at about $324,857,000. Pacer Advisors Inc. raised its position in Kraft Heinz by 4,390.7% in the first quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company's stock worth $226,523,000 after purchasing an additional 7,278,295 shares in the last quarter. Southeastern Asset Management Inc. TN acquired a new stake in Kraft Heinz during the fourth quarter valued at approximately $87,080,000. Finally, Fairfax Financial Holdings Ltd. Can grew its stake in shares of Kraft Heinz by 341.9% in the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 3,314,000 shares of the company's stock valued at $101,773,000 after purchasing an additional 2,564,000 shares during the period. Institutional investors and hedge funds own 78.17% of the company's stock.

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.