Kraft Heinz’s (KHC) “Neutral” Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Kraft Heinz (NASDAQ:KHC) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. They currently have a $35.00 price target on the stock, down from their prior price target of $40.00.

KHC has been the topic of several other reports. JPMorgan Chase & Co. lowered their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Mizuho lowered their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. Citigroup dropped their target price on shares of Kraft Heinz from $39.00 to $38.00 and set a “buy” rating on the stock in a research report on Thursday, October 31st. Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Deutsche Bank Aktiengesellschaft lowered Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $39.00 to $35.00 in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Kraft Heinz presently has a consensus rating of “Hold” and a consensus target price of $36.55.

Kraft Heinz Trading Up 0.7 %

Shares of KHC opened at $31.10 on Tuesday. The business’s 50-day moving average price is $34.16 and its 200 day moving average price is $34.29. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $37.60 billion, a P/E ratio of 28.01, a P/E/G ratio of 3.49 and a beta of 0.49. Kraft Heinz has a 1-year low of $30.40 and a 1-year high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business had revenue of $6.38 billion for the quarter, compared to the consensus estimate of $6.42 billion. During the same period last year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was down 2.8% compared to the same quarter last year. Analysts expect that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.15%. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insider Activity

In other news, EVP Pedro F. P. Navio sold 45,000 shares of Kraft Heinz stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the sale, the executive vice president now directly owns 168,195 shares in the company, valued at $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Institutional investors and hedge funds have recently bought and sold shares of the stock. New Covenant Trust Company N.A. bought a new stake in Kraft Heinz during the first quarter worth $27,000. Fortitude Family Office LLC grew its holdings in Kraft Heinz by 249.5% during the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 529 shares during the period. Ashton Thomas Securities LLC bought a new stake in Kraft Heinz in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Kraft Heinz by 1,077.0% in the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock valued at $31,000 after buying an additional 797 shares during the last quarter. Finally, Bangor Savings Bank acquired a new position in shares of Kraft Heinz during the 3rd quarter worth approximately $32,000. Institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

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.