Vetr Inc. Upgrades Kraft Heinz Co. (KHC) to “Strong-Buy”
Kraft Heinz Co. (NASDAQ:KHC) was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Thursday. The firm currently has a $98.22 price target on the stock. Vetr‘s price objective would indicate a potential upside of 12.38% from the company’s current price.
A number of other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Kraft Heinz from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Wednesday, June 29th. Goldman Sachs Group Inc. reissued a “conviction-buy” rating and issued a $98.00 price objective (up previously from $93.00) on shares of Kraft Heinz in a research note on Friday, July 15th. Susquehanna reissued a “buy” rating and issued a $98.00 price objective on shares of Kraft Heinz in a research note on Sunday, July 17th. Deutsche Bank AG raised Kraft Heinz from a “hold” rating to a “buy” rating and raised their price objective for the company from $85.00 to $103.00 in a research note on Friday, August 5th. Finally, Royal Bank Of Canada raised their price objective on Kraft Heinz from $92.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating, twelve have given a buy rating and two have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $99.17.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 87.40 on Thursday. The stock has a market cap of $106.42 billion, a P/E ratio of 64.08 and a beta of 0.47. Kraft Heinz has a one year low of $68.18 and a one year high of $90.54. The stock has a 50 day moving average of $88.64 and a 200 day moving average of $85.08.
Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ 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 company earned $6.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same period last year, the company earned $0.92 earnings per share. The firm’s revenue was up 159.7% compared to the same quarter last year. Equities analysts expect that Kraft Heinz will post $3.24 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, August 26th were issued a dividend of $0.60 per share. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Wednesday, August 24th. Kraft Heinz’s dividend payout ratio (DPR) is 181.82%.
In related 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 transaction of $244,468,695.55. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 26.92% of the company’s stock.
Several hedge funds have recently modified their holdings of KHC. Haverford Financial Services Inc. raised its stake in Kraft Heinz by 30.6% in the first quarter. Haverford Financial Services Inc. now owns 4,340 shares of the company’s stock worth $341,000 after buying an additional 1,017 shares during the last quarter. Howard Hughes Medical Institute bought a new stake in Kraft Heinz during the first quarter worth about $230,000. Bristlecone Advisors LLC bought a new stake in Kraft Heinz during the first quarter worth about $202,000. Stearns Financial Services Group raised its stake in Kraft Heinz by 0.3% in the first quarter. Stearns Financial Services Group now owns 5,534 shares of the company’s stock worth $435,000 after buying an additional 15 shares during the last quarter. Finally, BlackRock Fund Advisors raised its stake in Kraft Heinz by 0.5% in the first quarter. BlackRock Fund Advisors now owns 6,664,263 shares of the company’s stock worth $523,545,000 after buying an additional 33,087 shares during the last quarter. Hedge funds and other institutional investors own 61.30% of the company’s stock.
Kraft Heinz Company Profile
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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