Vetr upgraded shares of Kraft Heinz Co. (NASDAQ:KHC) from a buy rating to a strong-buy rating in a report published on Thursday. They currently have $98.22 price target on the stock.
Several other equities analysts have also weighed in on the company. JPMorgan Chase & Co. reissued a focus list rating on shares of Kraft Heinz in a report on Tuesday. Argus raised their price target on Kraft Heinz from $91.00 to $96.00 and gave the stock a buy rating in a report on Wednesday, September 28th. Stifel Nicolaus reaffirmed a buy rating and issued a $95.00 price target on shares of Kraft Heinz in a report on Tuesday, September 27th. Sanford C. Bernstein set a $110.00 price target on Kraft Heinz and gave the stock a buy rating in a report on Monday, September 12th. Finally, Morgan Stanley cut their price target on Kraft Heinz from $100.00 to $97.00 and set an overweight rating for the company in a report on Wednesday, August 31st. Two equities research analysts have rated the stock with a sell rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Kraft Heinz has a consensus rating of Buy and an average target price of $99.17.
Kraft Heinz (NASDAQ:KHC) traded down 0.362% during trading on Thursday, hitting $87.173. The stock had a trading volume of 462,878 shares. The company has a 50-day moving average of $88.71 and a 200-day moving average of $85.00. The stock has a market capitalization of $106.15 billion, a P/E ratio of 63.910 and a beta of 0.47. Kraft Heinz has a 52 week low of $68.18 and a 52 week high of $90.54.
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 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 earned $6.79 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same period in the prior year, the company earned $0.92 earnings per share. Kraft Heinz’s revenue was up 159.7% compared to the same quarter last year. On average, equities analysts expect that Kraft Heinz will post $3.24 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Shareholders of record on Friday, August 26th will be given a dividend of $0.60 per share. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date is Wednesday, August 24th. This represents a $2.40 dividend on an annualized basis and a yield of 2.74%. 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 the firm’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 26.92% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First American Bank increased its position in Kraft Heinz by 2.9% in the third quarter. First American Bank now owns 55,126 shares of the company’s stock valued at $4,934,000 after buying an additional 1,567 shares in the last quarter. Swarthmore Group Inc. bought a new position in Kraft Heinz during the third quarter valued at approximately $22,730,000. First American Trust FSB increased its position in Kraft Heinz by 2.9% in the third quarter. First American Trust FSB now owns 43,783 shares of the company’s stock valued at $3,919,000 after buying an additional 1,218 shares in the last quarter. Fulton Bank N.A. increased its position in Kraft Heinz by 14.5% in the third quarter. Fulton Bank N.A. now owns 39,094 shares of the company’s stock valued at $3,499,000 after buying an additional 4,964 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Kraft Heinz by 232.6% in the third quarter. BNP Paribas Arbitrage SA now owns 862,816 shares of the company’s stock valued at $77,231,000 after buying an additional 603,422 shares in 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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