Kraft Heinz Co. (NASDAQ:KHC) had its price target increased by stock analysts at Argus from $91.00 to $96.00 in a report released on Wednesday. The firm presently has a “buy” rating on the stock. Argus’ price objective would suggest a potential upside of 7.59% from the company’s previous close.
A number of other research firms have also recently issued reports on KHC. Susquehanna reiterated a “buy” rating on shares of Kraft Heinz in a research note on Monday, August 22nd. Vetr upgraded shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $93.36 target price for the company in a research note on Monday, July 11th. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $100.00 target price on shares of Kraft Heinz in a research note on Saturday, August 13th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $100.00 target price (up from $98.00) on shares of Kraft Heinz in a research note on Tuesday, August 16th. Finally, Stifel Nicolaus lifted their target price on shares of Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Two equities research analysts have rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. Kraft Heinz has an average rating of “Buy” and a consensus target price of $99.17.
Kraft Heinz (NASDAQ:KHC) traded down 0.0928% on Wednesday, hitting $89.1472. 268,565 shares of the stock were exchanged. The stock has a market cap of $108.55 billion, a PE ratio of 65.3572 and a beta of 0.47. The company’s 50 day moving average is $88.88 and its 200 day moving average is $84.56. Kraft Heinz has a 1-year low of $68.18 and a 1-year high of $90.54.
Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. The firm earned $6.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The company’s revenue was up 159.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.92 earnings per share. On average, equities research analysts expect that Kraft Heinz will post $3.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, August 26th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.69%. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, August 24th. Kraft Heinz’s payout ratio is presently 181.82%.
In related 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. 26.92% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in KHC. Envestnet Asset Management Inc. raised its position 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 worth $27,766,000 after buying an additional 65,072 shares during the period. Natixis raised its position in shares of Kraft Heinz by 214.4% in the first quarter. Natixis now owns 352,559 shares of the company’s stock worth $27,696,000 after buying an additional 240,411 shares during the period. GW&K Investment Management LLC raised its position 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 worth $27,287,000 after buying an additional 1,678 shares during the period. British Airways Pensions Investment Management Ltd bought a new position in shares of Kraft Heinz during the second quarter worth about $25,161,000. Finally, State Street Corp raised its position 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 worth $1,873,118,000 after buying an additional 775,834 shares during the period. 61.30% of the stock is currently owned by institutional investors and hedge funds.
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.
Receive News & Ratings for Kraft Heinz Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz Co. and related companies with MarketBeat.com's FREE daily email newsletter.