Kraft Heinz Co. (KHC) Receives “Focus List” Rating from JPMorgan Chase & Co.
KHC has been the subject of several other reports. Susquehanna restated a buy rating on shares of Kraft Heinz in a research report on Monday, August 22nd. Vetr upgraded shares of Kraft Heinz from a sell rating to a buy rating and set a $93.36 price objective for the company in a research report on Monday, July 11th. Goldman Sachs Group Inc. reiterated a buy rating and issued a $100.00 price target on shares of Kraft Heinz in a research report on Saturday, August 13th. Argus lifted their price target on shares of Kraft Heinz from $91.00 to $96.00 and gave the company a buy rating in a research report on Wednesday, September 28th. Finally, Credit Suisse Group AG reiterated an outperform rating and issued a $100.00 price target (up from $98.00) on shares of Kraft Heinz in a research report on Tuesday, August 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Kraft Heinz presently has an average rating of Buy and an average target price of $99.17.
Kraft Heinz (NASDAQ:KHC) opened at 88.02 on Tuesday. Kraft Heinz has a 12-month low of $68.18 and a 12-month high of $90.54. The firm has a market cap of $107.18 billion, a PE ratio of 64.53 and a beta of 0.47. The firm has a 50-day moving average price of $88.81 and a 200 day moving average price of $84.96.
Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.14. The company earned $6.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. Kraft Heinz’s revenue for the quarter was up 159.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.92 EPS. Equities research analysts forecast that Kraft Heinz will post $3.24 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, August 24th. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. Kraft Heinz’s payout ratio is presently 181.82%.
In other Kraft Heinz news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $87.05, for a total transaction of $244,468,695.55. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 26.92% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Virginia Retirement System acquired a new stake in shares of Kraft Heinz during the first quarter valued at $773,000. Exane Derivatives boosted its stake in shares of Kraft Heinz by 32.7% in the first quarter. Exane Derivatives now owns 9,058 shares of the company’s stock valued at $712,000 after buying an additional 2,232 shares in the last quarter. guardian investment management boosted its stake in shares of Kraft Heinz by 7.6% in the first quarter. guardian investment management now owns 14,080 shares of the company’s stock valued at $1,106,000 after buying an additional 1,000 shares in the last quarter. WASHINGTON TRUST Co boosted its stake in shares of Kraft Heinz by 2.5% in the first quarter. WASHINGTON TRUST Co now owns 84,007 shares of the company’s stock valued at $6,600,000 after buying an additional 2,057 shares in the last quarter. Finally, AR Asset Management Inc. boosted its stake in shares of Kraft Heinz by 10.8% in the first quarter. AR Asset Management Inc. now owns 23,609 shares of the company’s stock valued at $1,855,000 after buying an additional 2,300 shares in the last quarter. 61.30% of the stock is currently 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.
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