Kraft Heinz (NASDAQ:KHC) Now Covered by Analysts at JPMorgan Chase & Co.

Key Points

• Kraft Heinz received a "neutral" rating from JPMorgan Chase & Co., with a decreased price target of $27.00, indicating a potential downside from its current stock price.
• Wells Fargo and Mizuho have both set target prices of $29.00 for Kraft Heinz, while the company has an average target price of $30.12 based on multiple analyst ratings.
• The company's recent earnings report showed a quarterly EPS of $0.69, surpassing estimates, but revenue fell by 1.9% year-over-year to $6.35 billion.

JPMorgan Chase & Co. assumed coverage on shares of Kraft Heinz (NASDAQ:KHC - Free Report) in a report released on Wednesday, Marketbeat Ratings reports. The brokerage issued a neutral rating and a $27.00 price target on the stock.

A number of other equities research analysts also recently weighed in on KHC. The Goldman Sachs Group raised 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. 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 research report on Friday, May 9th. Sanford C. Bernstein downgraded Kraft Heinz from an "outperform" rating to a "market perform" rating and dropped their price objective for the company from $34.00 to $31.00 in a research report on Tuesday, April 22nd. UBS Group raised their price objective on Kraft Heinz from $29.00 to $30.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Finally, Mizuho set a $29.00 price target on Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Sixteen research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Kraft Heinz has a consensus rating of "Reduce" and a consensus price target of $30.12.

Kraft Heinz Stock Up 2.0%

KHC stock traded up $0.56 during trading on Wednesday, reaching $28.06. 10,695,765 shares of the company traded hands, compared to its average volume of 11,599,574. Kraft Heinz has a 12 month low of $25.44 and a 12 month high of $36.53. The business has a 50 day simple moving average of $27.14 and a 200 day simple moving average of $28.33. The company has a market capitalization of $33.21 billion, a price-to-earnings ratio of -6.25, a price-to-earnings-growth ratio of 3.27 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.66 and a current ratio of 1.07.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The company had revenue of $6.35 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the company earned $0.78 earnings per share. The firm's revenue for the quarter was down 1.9% compared to the same quarter last year. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. On average, equities research analysts anticipate that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Friday, August 29th. Kraft Heinz's dividend payout ratio (DPR) is currently -35.63%.

Insider Activity at Kraft Heinz

In related news, Director Elio Leoni Sceti sold 25,000 shares of Kraft Heinz stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $27.91, for a total transaction of $697,750.00. Following the completion of the sale, the director owned 40,000 shares of the company's stock, valued at $1,116,400. The trade was a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Kraft Heinz by 0.4% during the second quarter. Vanguard Group Inc. now owns 102,435,702 shares of the company's stock worth $2,644,890,000 after purchasing an additional 454,868 shares during the period. State Street Corp lifted its holdings in shares of Kraft Heinz by 1.0% during the second quarter. State Street Corp now owns 46,376,394 shares of the company's stock worth $1,197,438,000 after purchasing an additional 462,963 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Kraft Heinz by 14.7% during the second quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company's stock worth $681,663,000 after purchasing an additional 3,392,470 shares during the period. Invesco Ltd. lifted its holdings in shares of Kraft Heinz by 7.1% during the second quarter. Invesco Ltd. now owns 17,584,674 shares of the company's stock worth $454,036,000 after purchasing an additional 1,171,262 shares during the period. Finally, Norges Bank acquired a new stake in shares of Kraft Heinz during the second quarter worth about $276,159,000. Institutional investors and hedge funds own 78.17% of the company's stock.

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.