Kraft Heinz (NASDAQ:KHC) Lifted to “Overweight” at Piper Sandler

Piper Sandler upgraded shares of Kraft Heinz (NASDAQ:KHCFree Report) from a neutral rating to an overweight rating in a research report report published on Wednesday morning, MarketBeat reports. Piper Sandler currently has $42.00 price target on the stock.

KHC has been the topic of several other reports. Wells Fargo & Company reduced their target price on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating on the stock in a report on Thursday, February 15th. Bank of America boosted their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a buy rating in a research report on Monday, April 15th. Citigroup assumed coverage on shares of Kraft Heinz in a report on Thursday, February 1st. They set a buy rating and a $43.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Kraft Heinz from $42.00 to $43.00 and gave the company a buy rating in a research note on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Kraft Heinz presently has a consensus rating of Moderate Buy and an average price target of $40.08.

View Our Latest Stock Analysis on KHC

Kraft Heinz Price Performance

NASDAQ:KHC opened at $35.85 on Wednesday. Kraft Heinz has a 52 week low of $30.68 and a 52 week high of $38.96. 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 firm’s 50-day simple moving average is $36.64 and its 200 day simple moving average is $36.20. The firm has a market cap of $43.53 billion, a price-to-earnings ratio of 15.66, a P/E/G ratio of 2.87 and a beta of 0.65.

Kraft Heinz (NASDAQ:KHCGet Free Report) last announced its earnings results on Wednesday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. The company had revenue of $6.41 billion for 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% on a year-over-year basis. During the same period last year, the firm earned $0.68 earnings per share. As a group, sell-side analysts predict that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, June 6th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.46%. Kraft Heinz’s payout ratio is presently 69.87%.

Insider Activity

In other news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the transaction, the insider now owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.32% of the company’s stock.

Institutional Trading of Kraft Heinz

Institutional investors have recently modified their holdings of the business. Steward Partners Investment Solutions LLC bought a new position in Kraft Heinz during the 4th quarter worth approximately $25,000. New Covenant Trust Company N.A. acquired a new position in Kraft Heinz in the first quarter valued at $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Kraft Heinz during the fourth quarter valued at $32,000. BKM Wealth Management LLC acquired a new stake in Kraft Heinz during the 4th quarter worth about $33,000. Finally, Transcendent Capital Group LLC acquired a new stake in Kraft Heinz during the 4th quarter worth about $38,000. Institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

(Get Free Report)

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.

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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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