Kraft Heinz (NASDAQ:KHC) Price Target Cut to $31.00 by Analysts at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC) had its price target cut by Wells Fargo & Company from $35.00 to $31.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently issued reports on KHC. Piper Sandler restated a “neutral” rating and set a $35.00 price objective (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $38.00 in a research report on Friday, October 25th. Mizuho decreased their price objective on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Citigroup cut their price objective 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. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $35.00 target price (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $35.58.

Kraft Heinz Stock Down 0.4 %

Shares of NASDAQ KHC opened at $29.66 on Tuesday. Kraft Heinz has a 1 year low of $29.23 and a 1 year high of $38.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.06 and a quick ratio of 0.56. The firm has a market cap of $35.86 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. The company has a 50 day simple moving average of $31.33 and a 200 day simple moving average of $33.36.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.01. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Kraft Heinz’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. On average, research analysts forecast that Kraft Heinz will post 3.01 EPS for the current year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were issued a dividend of $0.40 per share. The ex-dividend date was Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.39%. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insider Activity at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the completion of the sale, the executive vice president now directly owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This trade represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Institutional Trading of Kraft Heinz

A number of large investors have recently added to or reduced their stakes in the stock. TD Asset Management Inc raised its holdings in shares of Kraft Heinz by 4.2% in the 2nd quarter. TD Asset Management Inc now owns 351,158 shares of the company’s stock worth $11,314,000 after purchasing an additional 14,100 shares during the period. Candriam S.C.A. grew its stake in shares of Kraft Heinz by 9.7% during the 2nd quarter. Candriam S.C.A. now owns 93,544 shares of the company’s stock worth $3,014,000 after acquiring an additional 8,301 shares during the period. Los Angeles Capital Management LLC increased its holdings in Kraft Heinz by 520.8% in the 2nd quarter. Los Angeles Capital Management LLC now owns 35,216 shares of the company’s stock worth $1,135,000 after acquiring an additional 29,543 shares during the last quarter. Norden Group LLC increased its holdings in Kraft Heinz by 3.8% in the 2nd quarter. Norden Group LLC now owns 9,321 shares of the company’s stock worth $300,000 after acquiring an additional 339 shares during the last quarter. Finally, Asset Dedication LLC raised its stake in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares during the period. Hedge funds and other 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.