TD Cowen Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $32.00

Kraft Heinz (NASDAQ:KHC) had its price objective trimmed by TD Cowen from $34.00 to $32.00 in a research report report published on Wednesday morning,Benzinga reports. The firm currently has a hold rating on the stock.

KHC has been the subject of several other research reports. Piper Sandler reaffirmed a “neutral” rating and issued a $35.00 target price (down previously from $40.00) on shares of Kraft Heinz in a research note on Tuesday, November 19th. Evercore ISI reaffirmed an “in-line” rating and set a $35.00 target price (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday. Barclays cut their price target on shares of Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating for the company in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft downgraded 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. Finally, Stifel Nicolaus cut Kraft Heinz from a “buy” rating to a “hold” rating and dropped their target price for the company from $40.00 to $38.00 in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Kraft Heinz currently has an average rating of “Hold” and an average price target of $35.58.

Kraft Heinz Stock Down 3.9 %

KHC stock opened at $28.51 on Wednesday. Kraft Heinz has a 1-year low of $28.50 and a 1-year high of $38.96. The stock has a market cap of $34.47 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.48. 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 company’s 50 day moving average is $31.23 and its 200 day moving average is $33.32.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.01. The firm had revenue of $6.38 billion for the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The business’s quarterly revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the company posted $0.72 EPS. Sell-side analysts predict that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, November 29th were given 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 5.61%. Kraft Heinz’s payout ratio is 144.14%.

Insider Transactions at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction dated 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 owns 168,195 shares in the company, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

Several large investors have recently modified their holdings of KHC. Charles Schwab Investment Management Inc. boosted its stake in Kraft Heinz by 11.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,307,598 shares of the company’s stock valued at $186,350,000 after purchasing an additional 545,504 shares during the last quarter. Clifford Capital Partners LLC increased its holdings in Kraft Heinz by 21.4% in the 2nd quarter. Clifford Capital Partners LLC now owns 454,884 shares of the company’s stock worth $14,656,000 after buying an additional 80,101 shares in the last quarter. Banque Cantonale Vaudoise raised its position in Kraft Heinz by 52.5% in the 3rd quarter. Banque Cantonale Vaudoise now owns 170,511 shares of the company’s stock worth $5,988,000 after buying an additional 58,665 shares during the last quarter. Easterly Investment Partners LLC lifted its stake in Kraft Heinz by 39.4% during the 3rd quarter. Easterly Investment Partners LLC now owns 157,479 shares of the company’s stock valued at $5,529,000 after acquiring an additional 44,485 shares during the period. Finally, Toronto Dominion Bank boosted its holdings in shares of Kraft Heinz by 12.6% during the 3rd quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock valued at $17,132,000 after acquiring an additional 54,656 shares during the last quarter. 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.