Analysts Set The Kraft Heinz Company (NASDAQ:KHC) Price Target at $30.69

The Kraft Heinz Company (NASDAQ:KHC - Get Free Report) has received a consensus rating of "Reduce" from the seventeen ratings firms that are covering the firm, Marketbeat.com reports. Four analysts have rated the stock with a sell rating and thirteen have given a hold rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $30.63.

KHC has been the subject of several recent analyst reports. Citigroup restated 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. Piper Sandler decreased their target price on Kraft Heinz from $35.00 to $31.00 and set a "neutral" rating for the company in a research report on Thursday, February 13th. Bank of America cut Kraft Heinz from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $36.00 to $30.00 in a research note on Thursday, February 13th. Evercore ISI reiterated an "in-line" rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Finally, Sanford C. Bernstein lowered shares of 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 note on Tuesday, April 22nd.

Kraft Heinz Stock Up 0.8 %

NASDAQ:KHC traded up $0.23 during mid-day trading on Tuesday, hitting $29.10. The stock had a trading volume of 8,551,736 shares, compared to its average volume of 9,153,598. Kraft Heinz has a twelve month low of $27.25 and a twelve month high of $37.70. The stock has a 50-day simple moving average of $30.02 and a two-hundred day simple moving average of $30.81. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $34.73 billion, a PE ratio of 12.88, a PEG ratio of 3.39 and a beta of 0.44.

Kraft Heinz (NASDAQ:KHC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $6.02 billion. During the same period last year, the firm earned $0.69 earnings per share. Kraft Heinz's quarterly revenue was down 6.4% on a year-over-year basis. On average, equities research analysts anticipate that Kraft Heinz will post 2.68 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $1.60 annualized dividend and a yield of 5.50%. Kraft Heinz's payout ratio is currently 70.80%.

Institutional Investors Weigh In On Kraft Heinz

A number of hedge funds and other institutional investors have recently modified their holdings of KHC. Vanguard Group Inc. grew its holdings in Kraft Heinz by 19.9% in the fourth quarter. Vanguard Group Inc. now owns 90,508,763 shares of the company's stock valued at $2,779,524,000 after purchasing an additional 14,996,486 shares during the last quarter. Geode Capital Management LLC grew its stake in Kraft Heinz by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 19,745,734 shares of the company's stock valued at $604,644,000 after acquiring an additional 595,406 shares during the last quarter. Norges Bank purchased a new position in Kraft Heinz during the 4th quarter valued at about $324,857,000. Northern Trust Corp raised its position in Kraft Heinz by 12.6% during the fourth quarter. Northern Trust Corp now owns 9,289,691 shares of the company's stock worth $285,286,000 after acquiring an additional 1,039,885 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Kraft Heinz by 16.3% in the fourth quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company's stock valued at $269,906,000 after purchasing an additional 1,238,200 shares in the last quarter. 78.17% of the stock is currently 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.