Kraft Heinz (NASDAQ:KHC) Price Target Cut to $34.00 by Analysts at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC) had its price target cut by Wells Fargo & Company from $37.00 to $34.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms also recently weighed in on KHC. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Bank of America upped their target price on shares of Kraft Heinz from $40.00 to $42.00 and gave the company a buy rating in a research note on Monday, April 15th. Finally, Piper Sandler cut their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating for the company in a research note on Thursday, June 20th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of Moderate Buy and an average price target of $39.75.

Kraft Heinz Stock Performance

KHC opened at $32.22 on Thursday. The stock has a 50-day moving average of $35.19 and a 200-day moving average of $36.03. 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 company has a market cap of $39.12 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 2.60 and a beta of 0.57.

Kraft Heinz (NASDAQ:KHC) last posted its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.01. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.41%. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period last year, the business posted $0.68 EPS. Kraft Heinz’s revenue was down 1.2% compared to the same quarter last year. 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 firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, June 6th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.97%. Kraft Heinz’s payout ratio is 69.87%.

Insider Activity

In other Kraft Heinz news, insider Lande Rashida La sold 10,140 shares of Kraft Heinz stock in a transaction dated Monday, May 6th. The stock was 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 of the company’s stock, valued at approximately $5,689,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

A number of large investors have recently modified their holdings of the business. Abich Financial Wealth Management LLC bought a new stake in shares of Kraft Heinz during the 1st quarter worth approximately $136,000. Keynote Financial Services LLC bought a new stake in Kraft Heinz during the first quarter worth $985,000. EverSource Wealth Advisors LLC lifted its stake in Kraft Heinz by 75.4% in the first quarter. EverSource Wealth Advisors LLC now owns 6,536 shares of the company’s stock valued at $252,000 after acquiring an additional 2,810 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Kraft Heinz by 5.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 500,088 shares of the company’s stock valued at $18,269,000 after acquiring an additional 25,444 shares during the period. Finally, Cetera Advisors LLC increased its stake in shares of Kraft Heinz by 187.2% during the 1st quarter. Cetera Advisors LLC now owns 123,354 shares of the company’s stock worth $4,552,000 after purchasing an additional 80,396 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

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.