Kraft Heinz (NASDAQ:KHC) Receives Neutral Rating from Piper Sandler

Piper Sandler restated their neutral rating on shares of Kraft Heinz (NASDAQ:KHC) in a research note released on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a $35.00 target price on the stock, down from their previous target price of $40.00.

Several other research analysts have also weighed in on the company. Barclays lowered their price target on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and cut their price target for the company from $39.00 to $35.00 in a research note on Thursday, October 31st. JPMorgan Chase & Co. decreased their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research report on Wednesday, July 31st. Stifel Nicolaus cut shares of 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. Finally, Wells Fargo & Company upped their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Stock Performance

Shares of KHC stock opened at $31.81 on Tuesday. Kraft Heinz has a 12 month low of $30.40 and a 12 month high of $38.96. The company’s fifty day simple moving average is $34.08 and its 200-day simple moving average is $34.27. The firm has a market cap of $38.46 billion, a PE ratio of 28.66, a P/E/G ratio of 3.49 and a beta of 0.49. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, topping 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 company’s revenue for the quarter was down 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. Equities research analysts expect that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, November 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio is 144.14%.

Insider Buying and Selling at Kraft Heinz

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the transaction, the executive vice president now directly owns 168,195 shares in the company, valued at approximately $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 can be accessed through this link. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Te Ahumairangi Investment Management Ltd grew its holdings in Kraft Heinz by 8.2% in the third quarter. Te Ahumairangi Investment Management Ltd now owns 188,140 shares of the company’s stock worth $6,568,000 after purchasing an additional 14,300 shares during the period. Toronto Dominion Bank increased its stake in shares of Kraft Heinz by 12.6% in the third quarter. Toronto Dominion Bank now owns 487,938 shares of the company’s stock worth $17,132,000 after purchasing an additional 54,656 shares in the last quarter. Coldstream Capital Management Inc. boosted its position in shares of Kraft Heinz by 13.2% in the third quarter. Coldstream Capital Management Inc. now owns 14,390 shares of the company’s stock valued at $500,000 after acquiring an additional 1,675 shares during the period. Geode Capital Management LLC boosted its position in shares of Kraft Heinz by 11.3% during the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock valued at $669,821,000 after acquiring an additional 1,944,019 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of Kraft Heinz by 6.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 353,429 shares of the company’s stock valued at $12,409,000 after purchasing an additional 22,644 shares during the last quarter. Institutional investors and hedge funds 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.