Kraft Heinz (NASDAQ:KHC) PT Raised to $42.00 at Bank of America

Kraft Heinz (NASDAQ:KHC) had its target price lifted by Bank of America from $40.00 to $42.00 in a research note released on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

KHC has been the topic of several other reports. Wells Fargo & Company lowered their price objective on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating on the stock in a research report on Thursday, February 15th. Citigroup assumed coverage on Kraft Heinz in a research report on Thursday, February 1st. They issued a buy rating and a $43.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $40.71.

Kraft Heinz Stock Performance

Shares of KHC opened at $36.90 on Monday. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average price is $35.86 and its 200-day moving average price is $35.34. Kraft Heinz has a 52 week low of $30.68 and a 52 week high of $41.47. The stock has a market cap of $44.86 billion, a P/E ratio of 15.97, a P/E/G ratio of 2.87 and a beta of 0.67.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. The firm had revenue of $6.86 billion for the quarter, compared to analysts’ expectations of $6.99 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.85 EPS. Equities research analysts anticipate that Kraft Heinz will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.34%. Kraft Heinz’s dividend payout ratio is presently 69.26%.

Institutional Investors Weigh In On Kraft Heinz

Several hedge funds and other institutional investors have recently modified their holdings of KHC. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz in the 4th quarter worth $25,000. Ancora Advisors LLC boosted its holdings in Kraft Heinz by 69.9% in the 1st quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock worth $26,000 after buying an additional 272 shares during the period. OFI Invest Asset Management bought a new position in Kraft Heinz in the 3rd quarter worth $26,000. Riverview Trust Co bought a new position in shares of Kraft Heinz during the 3rd quarter valued at about $27,000. Finally, O Dell Group LLC bought a new position in shares of Kraft Heinz during the 4th quarter valued at about $31,000. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

Kraft Heinz Company Profile

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.