Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $39.00 at Deutsche Bank Aktiengesellschaft

Kraft Heinz (NASDAQ:KHC) had its price objective reduced by Deutsche Bank Aktiengesellschaft from $43.00 to $39.00 in a research note published on Wednesday, MarketBeat Ratings reports. They currently have a buy rating on the stock.

KHC has been the topic of several other reports. Citigroup dropped their price target on Kraft Heinz from $42.00 to $38.00 and set a buy rating on the stock in a research report on Wednesday, July 17th. Barclays lowered their price objective on shares of Kraft Heinz from $36.00 to $34.00 and set an equal weight rating on the stock in a research note on Friday, July 19th. Evercore ISI cut their target price on shares of Kraft Heinz from $42.00 to $38.00 and set an overweight rating for the company in a research note on Wednesday. Piper Sandler decreased their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating on the stock in a research report on Thursday, June 20th. Finally, Bank of America 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 10th. Seven analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Hold and an average price target of $37.58.

Kraft Heinz Stock Performance

KHC opened at $36.06 on Wednesday. The stock has a 50-day moving average of $33.34 and a 200-day moving average of $35.30. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.61 and a current ratio of 1.01. Kraft Heinz has a 52-week low of $30.68 and a 52-week high of $38.96. The company has a market cap of $43.60 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53.

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. The firm had revenue of $6.50 billion during the quarter, compared to analyst estimates of $6.55 billion. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The business’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.79 EPS. As a group, equities research analysts forecast that Kraft Heinz will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, August 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend is Friday, August 30th. Kraft Heinz’s dividend payout ratio is 69.87%.

Insider Buying and Selling at Kraft Heinz

In other news, insider Lande Rashida La sold 10,140 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $35.95, for a total value of $364,533.00. Following the sale, the insider now owns 158,266 shares in the company, valued at approximately $5,689,662.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.32% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KHC. TCW Group Inc. bought a new position in shares of Kraft Heinz in the fourth quarter worth about $1,098,000. Shell Asset Management Co. raised its position in Kraft Heinz by 251.3% in the 4th quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after purchasing an additional 24,199 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Kraft Heinz by 120.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after buying an additional 75,149 shares in the last quarter. Bridgewater Associates LP boosted its position in Kraft Heinz by 7.7% in the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after buying an additional 118,260 shares during the last quarter. Finally, Lazard Asset Management LLC boosted its position in Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock valued at $74,053,000 after buying an additional 234,783 shares during the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.