Kraft Heinz (NASDAQ:KHC) Lowered to Market Perform Rating by Sanford C. Bernstein

Sanford C. Bernstein downgraded shares of Kraft Heinz (NASDAQ:KHC - Free Report) from an outperform rating to a market perform rating in a report released on Tuesday, MarketBeat Ratings reports. The firm currently has $31.00 target price on the stock, down from their previous target price of $34.00.

A number of other research firms have also commented on KHC. Morgan Stanley started coverage on shares of Kraft Heinz in a research report on Monday, March 24th. They issued an "underweight" rating and a $29.00 price target on the stock. Wells Fargo & Company lowered their price target on Kraft Heinz from $31.00 to $30.00 and set an "equal weight" rating on the stock in a research report on Thursday, February 13th. JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $32.00 to $31.00 and set a "neutral" rating for the company in a research note on Thursday, February 13th. StockNews.com raised Kraft Heinz from a "sell" rating to a "hold" rating in a research report on Wednesday, March 12th. Finally, Evercore ISI reissued an "in-line" rating and issued a $35.00 price target (down from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company's stock. Based on data from MarketBeat.com, Kraft Heinz currently has a consensus rating of "Hold" and an average price target of $30.69.

Kraft Heinz Stock Down 0.5 %

Shares of KHC stock traded down $0.15 on Tuesday, hitting $29.49. The company's stock had a trading volume of 8,152,654 shares, compared to its average volume of 9,091,858. The stock has a market capitalization of $35.19 billion, a price-to-earnings ratio of 13.05, a P/E/G ratio of 3.39 and a beta of 0.44. Kraft Heinz has a fifty-two week low of $27.25 and a fifty-two week high of $38.72. The firm's fifty day moving average price is $30.07 and its 200-day moving average price is $30.90. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.78 by $0.06. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. Research analysts anticipate that Kraft Heinz will post 2.68 EPS for the current year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, March 7th. This represents a $1.60 annualized dividend and a yield of 5.43%. Kraft Heinz's dividend payout ratio is 70.80%.

Institutional Investors Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently bought and sold shares of the business. New York Life Investment Management LLC grew its holdings in shares of Kraft Heinz by 0.3% during the fourth quarter. New York Life Investment Management LLC now owns 130,075 shares of the company's stock worth $3,995,000 after purchasing an additional 361 shares during the last quarter. Checchi Capital Advisers LLC grew its holdings in Kraft Heinz by 5.3% during the 4th quarter. Checchi Capital Advisers LLC now owns 7,265 shares of the company's stock worth $223,000 after acquiring an additional 366 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its position in Kraft Heinz by 1.0% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 35,735 shares of the company's stock valued at $1,097,000 after acquiring an additional 370 shares in the last quarter. Winch Advisory Services LLC raised its stake in shares of Kraft Heinz by 20.1% in the fourth quarter. Winch Advisory Services LLC now owns 2,274 shares of the company's stock worth $70,000 after acquiring an additional 380 shares during the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC lifted its position in shares of Kraft Heinz by 4.0% during the fourth quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,009 shares of the company's stock worth $307,000 after purchasing an additional 386 shares in the last quarter. 78.17% of the stock is owned by institutional investors and hedge funds.

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.