Kraft Heinz (NASDAQ:KHC) Rating Increased 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 note released on Wednesday morning, MarketBeat Ratings reports. The Goldman Sachs Group currently has $27.00 price objective on the stock, up from their previous price objective of $25.00.

Several other analysts have also recently weighed in on KHC. Stifel Nicolaus cut their price objective on Kraft Heinz from $31.00 to $30.00 and set a "hold" rating on the stock in a research report on Wednesday, April 30th. Mizuho set a $29.00 price target on Kraft Heinz and gave the company a "neutral" rating in a research report on Wednesday, May 28th. Sanford C. Bernstein cut Kraft Heinz from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $34.00 to $31.00 in a research note on Tuesday, April 22nd. Citigroup reissued a "sell" rating and set a $27.00 price objective (down previously from $28.00) on shares of Kraft Heinz in a research report on Friday, April 4th. Finally, DZ Bank cut shares of Kraft Heinz from a "buy" rating to a "hold" rating and set a $31.00 target price on the stock. in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $30.47.

Kraft Heinz Trading Down 1.2%

Shares of Kraft Heinz stock traded down $0.30 during midday trading on Wednesday, reaching $25.73. 17,543,707 shares of the company's stock traded hands, compared to its average volume of 9,741,261. The stock has a 50 day moving average of $27.52 and a 200-day moving average of $29.13. Kraft Heinz has a 12 month low of $25.53 and a 12 month high of $36.53. The company has a market cap of $30.45 billion, a PE ratio of 11.75, a price-to-earnings-growth ratio of 3.03 and a beta of 0.27. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.81 and a current ratio of 1.31.

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. The business had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. Kraft Heinz had a net margin of 10.44% and a return on equity of 7.37%. The company's revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.69 EPS. As a group, equities analysts expect that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 30th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 dividend on an annualized basis and a yield of 6.22%. Kraft Heinz's payout ratio is currently 73.06%.

Institutional Trading of Kraft Heinz

A number of institutional investors and hedge funds have recently modified their holdings of KHC. Generali Investments Management Co LLC bought a new stake in Kraft Heinz in the 4th quarter worth approximately $26,000. Mountain Hill Investment Partners Corp. purchased a new position in Kraft Heinz in the fourth quarter worth about $29,000. Rossby Financial LCC bought a new stake in shares of Kraft Heinz during the 1st quarter valued at about $29,000. Wayfinding Financial LLC purchased a new stake in shares of Kraft Heinz during the 1st quarter valued at about $33,000. Finally, Investment Management Corp VA ADV lifted its stake in shares of Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company's stock worth $35,000 after purchasing an additional 669 shares during the period. 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.