Kraft Heinz (NASDAQ:KHC) Price Target Lowered to $25.00 at JPMorgan Chase & Co.

Kraft Heinz (NASDAQ:KHC) had its price target trimmed by JPMorgan Chase & Co. from $27.00 to $25.00 in a report issued on Thursday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts also recently commented on the company. Mizuho dropped their price objective on Kraft Heinz from $29.00 to $27.00 and set a “neutral” rating on the stock in a report on Tuesday. Wells Fargo & Company dropped their price objective on Kraft Heinz from $27.00 to $25.00 and set an “equal weight” rating on the stock in a report on Thursday. Stifel Nicolaus dropped their price objective on Kraft Heinz from $30.00 to $28.00 and set a “hold” rating on the stock in a report on Wednesday, September 3rd. Morgan Stanley dropped their price objective on Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group dropped their price objective on Kraft Heinz from $28.00 to $24.00 and set a “hold” rating on the stock in a report on Wednesday, October 15th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $26.61.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $24.58 on Thursday. The firm has a market capitalization of $29.09 billion, a PE ratio of -6.59, a price-to-earnings-growth ratio of 2.88 and a beta of 0.16. The business’s fifty day moving average price is $26.13 and its 200 day moving average price is $27.01. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.13 and a quick ratio of 0.66. Kraft Heinz has a 12 month low of $24.10 and a 12 month high of $34.08.

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

Kraft Heinz Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Friday, November 28th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.5%. Kraft Heinz’s dividend payout ratio (DPR) is currently -35.63%.

Hedge Funds Weigh In On Kraft Heinz

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Kraft Heinz by 12.7% in the 1st quarter. Vanguard Group Inc. now owns 101,980,834 shares of the company’s stock valued at $3,103,277,000 after purchasing an additional 11,472,071 shares during the last quarter. Norges Bank purchased a new position in shares of Kraft Heinz in the 2nd quarter valued at approximately $276,159,000. Pacer Advisors Inc. grew its stake in shares of Kraft Heinz by 4,390.7% in the 1st quarter. Pacer Advisors Inc. now owns 7,444,062 shares of the company’s stock valued at $226,523,000 after purchasing an additional 7,278,295 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Kraft Heinz by 75.1% in the 3rd quarter. Nordea Investment Management AB now owns 13,694,483 shares of the company’s stock valued at $351,263,000 after purchasing an additional 5,873,967 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Kraft Heinz by 14.7% in the 2nd quarter. Geode Capital Management LLC now owns 26,446,203 shares of the company’s stock valued at $681,663,000 after purchasing an additional 3,392,470 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.