Kraft Heinz (NASDAQ:KHC) Price Target Increased to $36.00 by Analysts at Barclays

Kraft Heinz (NASDAQ:KHC) had its target price lifted by Barclays from $34.00 to $36.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

KHC has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a buy rating on the stock in a research note on Wednesday. Wells Fargo & Company boosted their price objective on shares of Kraft Heinz from $34.00 to $35.00 and gave the stock an equal weight rating in a report on Thursday. Citigroup cut their price objective on shares of Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a research report on Wednesday, July 17th. Bank of America decreased their target price on Kraft Heinz from $42.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, July 10th. Finally, JPMorgan Chase & Co. cut their price target on Kraft Heinz from $38.00 to $37.00 and set a neutral rating for the company in a report on Wednesday. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of Hold and a consensus target price of $37.58.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC traded up $0.69 during trading on Thursday, reaching $36.09. The stock had a trading volume of 7,530,056 shares, compared to its average volume of 8,012,810. The company has a quick ratio of 0.61, a current ratio of 1.09 and a debt-to-equity ratio of 0.40. The stock has a fifty day simple moving average of $33.34 and a two-hundred day simple moving average of $35.33. The firm has a market capitalization of $43.82 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 3.50 and a beta of 0.53. Kraft Heinz has a 52 week low of $30.68 and a 52 week high of $38.96.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, July 31st. The company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.36%. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the business earned $0.79 EPS. The business’s revenue was down 3.3% on a year-over-year basis. As a group, analysts anticipate that Kraft Heinz will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, August 30th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.60 annualized dividend and a yield of 4.43%. Kraft Heinz’s dividend payout ratio is currently 69.87%.

Insider Activity

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the sale, the insider now directly owns 158,266 shares of the company’s stock, valued at $5,689,662.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.32% of the stock is owned by corporate insiders.

Institutional Trading of Kraft Heinz

Several large investors have recently made changes to their positions in KHC. LMG Wealth Partners LLC bought a new stake in shares of Kraft Heinz during the second quarter valued at approximately $1,048,000. CM Management LLC acquired a new stake in shares of Kraft Heinz in the 2nd quarter valued at $806,000. Rhumbline Advisers raised its position in shares of Kraft Heinz by 0.7% during the second quarter. Rhumbline Advisers now owns 1,828,000 shares of the company’s stock worth $58,898,000 after acquiring an additional 12,959 shares during the last quarter. Carret Asset Management LLC raised its holdings in Kraft Heinz by 1.5% during the 2nd quarter. Carret Asset Management LLC now owns 66,109 shares of the company’s stock worth $2,130,000 after purchasing an additional 1,000 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its holdings in Kraft Heinz by 8.2% in the second quarter. CIBC Asset Management Inc now owns 333,899 shares of the company’s stock valued at $10,758,000 after buying an additional 25,345 shares during the period. 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.