The Kraft Heinz Company (KHC) to Issue Quarterly Dividend of $0.40 on December 27th

The Kraft Heinz Company (NASDAQ:KHC) declared a quarterly dividend on Wednesday, October 30th, RTT News reports. Investors of record on Friday, November 29th will be paid a dividend of 0.40 per share on Friday, December 27th. This represents a $1.60 annualized dividend and a yield of 4.78%. The ex-dividend date is Friday, November 29th.

Kraft Heinz has a payout ratio of 50.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Kraft Heinz to earn $3.13 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 51.1%.

Kraft Heinz Stock Performance

KHC stock opened at $33.46 on Friday. The company has a market capitalization of $40.46 billion, a price-to-earnings ratio of 30.14, a P/E/G ratio of 3.30 and a beta of 0.49. The firm has a 50 day moving average of $35.20 and a two-hundred day moving average of $34.85. The company has a quick ratio of 0.53, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. Kraft Heinz has a 12 month low of $31.08 and a 12 month high of $38.96.

Kraft Heinz (NASDAQ:KHC) last posted its 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 the consensus estimate 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 period in the prior year, the business posted $0.72 earnings per share. As a group, equities analysts anticipate that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on KHC shares. Wells Fargo & Company increased their price target on shares of Kraft Heinz from $34.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. JPMorgan Chase & Co. decreased their target price on Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 31st. Citigroup cut their price target on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a report on Thursday. Piper Sandler cut their target price on Kraft Heinz from $41.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Mizuho decreased their price target 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $37.23.

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.