Kraft Heinz (NASDAQ:KHC) Given New $29.00 Price Target at UBS Group

Kraft Heinz (NASDAQ:KHC - Free Report) had its price objective reduced by UBS Group from $31.00 to $29.00 in a research note issued to investors on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

KHC has been the subject of several other research reports. DZ Bank lowered 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. Cfra Research lowered Kraft Heinz from a "moderate buy" rating to a "hold" rating in a report on Wednesday, April 16th. Sanford C. Bernstein lowered Kraft Heinz from an "outperform" rating to a "market perform" rating and cut their price objective for the stock from $34.00 to $31.00 in a report on Tuesday, April 22nd. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a "neutral" rating in a report on Wednesday, May 28th. Finally, Wells Fargo & Company lifted their target price on Kraft Heinz from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Monday. Three analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $30.29.

Kraft Heinz Stock Up 2.0%

Shares of Kraft Heinz stock traded up $0.55 on Thursday, reaching $28.13. The company's stock had a trading volume of 17,562,134 shares, compared to its average volume of 10,615,604. The company has a quick ratio of 0.81, a current ratio of 1.31 and a debt-to-equity ratio of 0.42. Kraft Heinz has a 52 week low of $25.44 and a 52 week high of $36.53. The company has a market capitalization of $33.29 billion, a price-to-earnings ratio of 12.84, a P/E/G ratio of 3.23 and a beta of 0.25. The firm's fifty day simple moving average is $26.68 and its two-hundred day simple moving average is $28.65.

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 return on equity of 7.37% and a net margin of 10.44%. The company had revenue of $6 billion during the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. Kraft Heinz's revenue was down 6.4% compared to the same quarter last year. Equities analysts anticipate that Kraft Heinz will post 2.68 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 30th were given a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $1.60 annualized dividend and a dividend yield of 5.69%. Kraft Heinz's payout ratio is 73.06%.

Hedge Funds Weigh In On Kraft Heinz

Several large investors have recently made changes to their positions in KHC. V Square Quantitative Management LLC grew its holdings in Kraft Heinz by 57.1% during the 2nd quarter. V Square Quantitative Management LLC now owns 13,616 shares of the company's stock valued at $352,000 after buying an additional 4,950 shares in the last quarter. Sound Income Strategies LLC grew its holdings in Kraft Heinz by 19.2% during the 2nd quarter. Sound Income Strategies LLC now owns 335,621 shares of the company's stock valued at $8,666,000 after buying an additional 54,103 shares in the last quarter. Peoples Financial Services CORP. grew its holdings in Kraft Heinz by 92.8% during the 2nd quarter. Peoples Financial Services CORP. now owns 8,829 shares of the company's stock valued at $228,000 after buying an additional 4,250 shares in the last quarter. Avior Wealth Management LLC grew its holdings in Kraft Heinz by 12,413.7% during the 2nd quarter. Avior Wealth Management LLC now owns 33,912 shares of the company's stock valued at $876,000 after buying an additional 33,641 shares in the last quarter. Finally, Brown Lisle Cummings Inc. grew its holdings in Kraft Heinz by 8.3% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 29,489 shares of the company's stock valued at $761,000 after buying an additional 2,253 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

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.