Kraft Heinz (KHC) Raised to Hold at BidaskClub
BidaskClub upgraded shares of Kraft Heinz (NASDAQ:KHC) from a sell rating to a hold rating in a research report released on Tuesday morning.
A number of other research firms also recently commented on KHC. Zacks Investment Research upgraded Kraft Heinz from a sell rating to a hold rating in a report on Monday, August 27th. Jefferies Financial Group reiterated a buy rating and issued a $75.00 price objective on shares of Kraft Heinz in a report on Tuesday, August 7th. Morgan Stanley started coverage on Kraft Heinz in a report on Monday, September 17th. They issued an underweight rating and a $52.00 price objective on the stock. Credit Suisse Group upgraded Kraft Heinz to a hold rating and set a $52.00 price objective on the stock in a report on Thursday, October 4th. Finally, Bank of America set a $85.00 price objective on Kraft Heinz and gave the company a buy rating in a report on Monday, August 6th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. Kraft Heinz currently has an average rating of Hold and a consensus target price of $72.02.
KHC opened at $54.24 on Tuesday. Kraft Heinz has a one year low of $53.03 and a one year high of $82.48. The stock has a market capitalization of $67.19 billion, a PE ratio of 14.98, a price-to-earnings-growth ratio of 1.88 and a beta of 0.51. The company has a current ratio of 1.05, a quick ratio of 0.70 and a debt-to-equity ratio of 0.48.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Friday, August 17th were given a $0.625 dividend. The ex-dividend date was Thursday, August 16th. This represents a $2.50 dividend on an annualized basis and a dividend yield of 4.61%. Kraft Heinz’s dividend payout ratio (DPR) is presently 70.42%.
In related news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $59.85, for a total value of $1,234,724,292.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eduardo Pelleissone sold 35,000 shares of the company’s stock in a transaction dated Monday, August 6th. The shares were sold at an average price of $63.85, for a total value of $2,234,750.00. The disclosure for this sale can be found here. 26.81% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Berkshire Asset Management LLC PA lifted its position in Kraft Heinz by 6.0% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 279,777 shares of the company’s stock worth $15,419,000 after acquiring an additional 15,908 shares during the period. Butensky & Cohen Financial Security Inc. lifted its position in Kraft Heinz by 9.9% during the 3rd quarter. Butensky & Cohen Financial Security Inc. now owns 26,326 shares of the company’s stock worth $1,451,000 after acquiring an additional 2,380 shares during the period. Gemmer Asset Management LLC lifted its position in Kraft Heinz by 12.2% during the 3rd quarter. Gemmer Asset Management LLC now owns 15,920 shares of the company’s stock worth $877,000 after acquiring an additional 1,730 shares during the period. Pittenger & Anderson Inc. lifted its position in Kraft Heinz by 80.7% during the 3rd quarter. Pittenger & Anderson Inc. now owns 28,410 shares of the company’s stock worth $1,566,000 after acquiring an additional 12,685 shares during the period. Finally, BLB&B Advisors LLC lifted its position in Kraft Heinz by 28.6% during the 3rd quarter. BLB&B Advisors LLC now owns 81,876 shares of the company’s stock worth $4,512,000 after acquiring an additional 18,205 shares during the period. 62.82% of the stock is owned by institutional investors.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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