Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $24.00 at Barclays

Kraft Heinz (NASDAQ:KHC) had its price objective lowered by Barclays from $26.00 to $24.00 in a research note released on Thursday,MarketScreener reports.

A number of other equities research analysts have also commented on the company. Piper Sandler lowered their price target on Kraft Heinz from $30.00 to $25.00 and set a “neutral” rating for the company in a research report on Thursday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research report on Wednesday, October 8th. Morgan Stanley decreased their target price on Kraft Heinz from $29.00 to $28.00 in a research report on Thursday, October 16th. JPMorgan Chase & Co. assumed coverage on Kraft Heinz in a research report on Wednesday, August 20th. They set a “neutral” rating and a $27.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Kraft Heinz from $28.00 to $27.00 and set a “hold” rating for the company in a research report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $26.61.

Kraft Heinz Trading Up 0.8%

NASDAQ KHC opened at $24.58 on Thursday. The firm has a market capitalization of $29.09 billion, a P/E ratio of -6.59, a PEG ratio of 2.88 and a beta of 0.16. The business has a fifty day simple moving average of $26.13 and a 200 day simple moving average of $27.01. Kraft Heinz has a 12 month low of $24.10 and a 12 month high of $34.08. The company has a current ratio of 1.13, a quick ratio of 0.66 and a debt-to-equity ratio of 0.46.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. The business had revenue of $6.39 billion during the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%. On average, analysts predict that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Kraft Heinz Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.5%. Kraft Heinz’s dividend payout ratio (DPR) is -42.90%.

Institutional Investors Weigh In On Kraft Heinz

Large investors have recently added to or reduced their stakes in the company. Rossby Financial LCC purchased a new stake in Kraft Heinz in the 1st quarter worth about $29,000. Rakuten Securities Inc. increased its holdings in Kraft Heinz by 172.4% in the 2nd quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock worth $32,000 after acquiring an additional 788 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Kraft Heinz in the 1st quarter worth about $33,000. Cape Investment Advisory Inc. increased its holdings in Kraft Heinz by 164.7% in the 2nd quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock worth $33,000 after acquiring an additional 807 shares during the last quarter. Finally, Investment Management Corp VA ADV increased its holdings in Kraft Heinz by 141.7% in the 1st quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock worth $35,000 after acquiring an additional 669 shares during the last quarter. Hedge funds and other institutional investors 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.