The Kraft Heinz Company (NASDAQ:KHC) Announces $0.40 Quarterly Dividend

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 dividend on an annualized basis and a yield of 4.74%. The ex-dividend date of this dividend is Friday, November 29th.

Kraft Heinz has a payout ratio of 50.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Kraft Heinz to earn $3.14 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 51.0%.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $33.73 on Thursday. The firm has a market cap of $40.96 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 3.48 and a beta of 0.49. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.53 and a current ratio of 1.01. Kraft Heinz has a 52 week low of $31.08 and a 52 week high of $38.96. The firm’s fifty day moving average is $35.24 and its 200-day moving average is $34.86.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. Kraft Heinz had a net margin of 7.30% and a return on equity of 7.38%. The company had revenue of $6.38 billion for the quarter, compared to analyst estimates of $6.42 billion. During the same period in the prior year, the firm posted $0.72 EPS. The company’s quarterly revenue was down 2.8% on a year-over-year basis. Sell-side analysts predict that Kraft Heinz will post 3.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $36.00, for a total transaction of $146,736.00. Following the sale, the insider now directly owns 143,970 shares in the company, valued at approximately $5,182,920. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on KHC. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating on the stock in a report on Wednesday, July 31st. Wells Fargo & Company increased their price target on Kraft Heinz from $34.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America decreased their price objective on Kraft Heinz from $42.00 to $38.00 and set a “buy” rating for the company in a report on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft cut Kraft Heinz from a “buy” rating to a “hold” rating and cut their target price for the stock from $39.00 to $35.00 in a report on Thursday. Finally, The Goldman Sachs Group dropped their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.08.

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.