Kraft Heinz Co. (KHC) Cut to “Buy” at Vetr Inc.
Vetr cut shares of Kraft Heinz Co. (NASDAQ:KHC) from a strong-buy rating to a buy rating in a research note published on Monday morning. They currently have $98.22 target price on the stock.
Several other equities analysts have also issued reports on KHC. Zacks Investment Research lowered Kraft Heinz from a buy rating to a hold rating in a research report on Tuesday, July 5th. RBC Capital Markets restated an outperform rating and set a $96.00 price target (up from $92.00) on shares of Kraft Heinz in a research report on Friday, August 5th. Stifel Nicolaus raised their price target on Kraft Heinz from $90.00 to $95.00 and gave the stock a buy rating in a research report on Friday, August 5th. Deutsche Bank AG upgraded Kraft Heinz from a hold rating to a buy rating and raised their price target for the stock from $85.00 to $103.00 in a research report on Friday, August 5th. Finally, Royal Bank Of Canada increased their price objective on Kraft Heinz from $92.00 to $96.00 and gave the stock an outperform rating in a report on Friday, August 5th. Two research analysts have rated the stock with a sell rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $98.79.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 87.91 on Monday. The company has a market cap of $107.04 billion, a P/E ratio of 64.45 and a beta of 0.47. The stock’s 50 day moving average price is $88.66 and its 200 day moving average price is $84.14. Kraft Heinz has a 12-month low of $68.18 and a 12-month high of $90.54.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.14. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same period last year, the company earned $0.92 EPS. Kraft Heinz’s revenue for the quarter was up 159.7% compared to the same quarter last year. On average, analysts forecast that Kraft Heinz will post $3.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be issued a $0.60 dividend. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. Kraft Heinz’s dividend payout ratio (DPR) is presently 181.82%.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of Kraft Heinz stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 26.92% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its stake in shares of Kraft Heinz by 22.6% in the first quarter. Envestnet Asset Management Inc. now owns 353,441 shares of the company’s stock valued at $27,766,000 after buying an additional 65,072 shares during the last quarter. Natixis raised its stake in shares of Kraft Heinz by 214.4% in the first quarter. Natixis now owns 352,559 shares of the company’s stock valued at $27,696,000 after buying an additional 240,411 shares during the last quarter. GW&K Investment Management LLC raised its stake in shares of Kraft Heinz by 0.5% in the second quarter. GW&K Investment Management LLC now owns 308,403 shares of the company’s stock valued at $27,287,000 after buying an additional 1,678 shares during the last quarter. State Street Corp raised its stake in shares of Kraft Heinz by 3.4% in the first quarter. State Street Corp now owns 23,843,318 shares of the company’s stock valued at $1,873,118,000 after buying an additional 775,834 shares during the last quarter. Finally, Chilton Capital Management LLC raised its stake in shares of Kraft Heinz by 17.8% in the first quarter. Chilton Capital Management LLC now owns 4,194 shares of the company’s stock valued at $329,000 after buying an additional 635 shares during the last quarter. 61.30% of the stock is owned by institutional investors.
About Kraft Heinz
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
To view Vetr’s full report, visit Vetr’s official website.
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