Kraft Heinz (NASDAQ:KHC) Raised to Neutral at The Goldman Sachs Group

The Goldman Sachs Group upgraded shares of Kraft Heinz (NASDAQ:KHC - Free Report) from a sell rating to a neutral rating in a research report report published on Wednesday, Marketbeat reports. The Goldman Sachs Group currently has $27.00 price target on the stock, up from their prior price target of $25.00.

KHC has been the subject of several other reports. DZ Bank lowered shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 price objective for the company. in a report on Friday, May 9th. Citigroup restated a "sell" rating and issued a $27.00 price objective (down from $28.00) on shares of Kraft Heinz in a report on Friday, April 4th. Stifel Nicolaus lowered their price objective on shares of Kraft Heinz from $31.00 to $30.00 and set a "hold" rating for the company in a report on Wednesday, April 30th. Mizuho set a $29.00 price objective on shares of Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Kraft Heinz from a "sell" rating to a "hold" rating in a report on Wednesday, March 12th. Three investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.47.

Kraft Heinz Trading Down 0.7%

Shares of NASDAQ KHC traded down $0.18 during trading hours on Wednesday, hitting $25.61. The company's stock had a trading volume of 34,109,976 shares, compared to its average volume of 9,895,813. 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 stock has a market cap of $30.31 billion, a price-to-earnings ratio of 11.69, a P/E/G ratio of 3.02 and a beta of 0.27. 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 $27.30 and a 200-day simple moving average of $29.03.

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

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, May 30th were given a $0.40 dividend. The ex-dividend date was Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 6.25%. Kraft Heinz's dividend payout ratio (DPR) is presently 73.06%.

Hedge Funds Weigh In On Kraft Heinz

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Generali Investments Management Co LLC bought a new position in Kraft Heinz in the 4th quarter valued at approximately $26,000. Mountain Hill Investment Partners Corp. bought a new position in Kraft Heinz in the 4th quarter valued at approximately $29,000. Rossby Financial LCC bought a new position in Kraft Heinz in the 1st quarter valued at approximately $29,000. Wayfinding Financial LLC bought a new position in Kraft Heinz in the 1st quarter valued at approximately $33,000. Finally, Investment Management Corp VA ADV lifted its holdings in shares of Kraft Heinz by 141.7% during the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock valued at $35,000 after buying an additional 669 shares during the period. 78.17% of the stock is owned by institutional investors.

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.