Kraft Heinz (NASDAQ:KHC) Sets New 52-Week Low - Here's Why

The Kraft Heinz Company (NASDAQ:KHC - Get Free Report) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $26.01 and last traded at $26.46, with a volume of 10298023 shares changing hands. The stock had previously closed at $26.50.

Analyst Ratings Changes

Several analysts have issued reports on the company. DZ Bank downgraded Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective on the stock. in a report on Friday, May 9th. JPMorgan Chase & Co. decreased their price objective on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Morgan Stanley began coverage on Kraft Heinz in a report on Monday, March 24th. They issued an "underweight" rating and a $29.00 target price on the stock. Piper Sandler decreased their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. Finally, Wells Fargo & Company reduced their price objective on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating for the company in a research report on Thursday, February 13th. Four equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat.com, Kraft Heinz has an average rating of "Hold" and a consensus price target of $30.53.

Kraft Heinz Stock Performance

The company has a fifty day moving average price of $28.61 and a two-hundred day moving average price of $29.76. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. The company has a market capitalization of $31.66 billion, a P/E ratio of 11.84, a PEG ratio of 3.39 and a beta of 0.30.

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, beating the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The company had revenue of $6 billion during the quarter, compared to analysts' expectations of $6.02 billion. During the same quarter in the prior year, the firm posted $0.69 earnings per share. The business's quarterly revenue was down 6.4% on a year-over-year basis. Equities analysts forecast that The Kraft Heinz Company will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

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

Institutional Investors Weigh In On Kraft Heinz

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