Wells Fargo & Company Lowers Kraft Heinz (NASDAQ:KHC) Price Target to $34.00

Kraft Heinz (NASDAQ:KHC) had its target price trimmed by Wells Fargo & Company from $37.00 to $34.00 in a research report report published on Thursday morning, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank Aktiengesellschaft raised their target price on Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a report on Thursday, April 18th. Bank of America lifted their target price on Kraft Heinz from $40.00 to $42.00 and gave the company a buy rating in a research report on Monday, April 15th. Finally, Piper Sandler reduced their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating on the stock in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Kraft Heinz currently has an average rating of Moderate Buy and a consensus price target of $39.75.

Kraft Heinz Stock Down 0.2 %

Shares of NASDAQ KHC opened at $32.27 on Thursday. Kraft Heinz has a 52 week low of $30.68 and a 52 week high of $38.96. The stock’s fifty day moving average is $35.39 and its 200 day moving average is $36.10. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.61 and a current ratio of 1.09. The stock has a market capitalization of $39.19 billion, a P/E ratio of 14.09, a PEG ratio of 2.65 and a beta of 0.57.

Kraft Heinz (NASDAQ:KHC) last issued its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.68 by $0.01. The company had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.68 EPS. Sell-side analysts forecast that Kraft Heinz will post 3.01 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s payout ratio is currently 69.87%.

Insider Transactions at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total transaction of $364,533.00. Following the completion of the transaction, the insider now directly owns 158,266 shares of the company’s stock, valued at approximately $5,689,662.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Capital World Investors increased its position in shares of Kraft Heinz by 83.4% during the first quarter. Capital World Investors now owns 8,709,714 shares of the company’s stock worth $321,388,000 after buying an additional 3,961,872 shares during the period. AQR Capital Management LLC grew its holdings in Kraft Heinz by 86.0% during the 3rd quarter. AQR Capital Management LLC now owns 4,627,569 shares of the company’s stock worth $155,671,000 after acquiring an additional 2,140,153 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Kraft Heinz by 346.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,520,006 shares of the company’s stock worth $57,799,000 after acquiring an additional 1,179,863 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Kraft Heinz by 56.7% in the 1st quarter. Nordea Investment Management AB now owns 2,840,148 shares of the company’s stock valued at $104,929,000 after purchasing an additional 1,027,636 shares during the period. Finally, Morgan Stanley boosted its position in shares of Kraft Heinz by 7.2% during the 3rd quarter. Morgan Stanley now owns 12,580,726 shares of the company’s stock valued at $423,216,000 after purchasing an additional 850,326 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.

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.