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

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

Several other equities research analysts have also issued reports on the stock. Piper Sandler lowered their price target on shares of Kraft Heinz from $42.00 to $41.00 and set an overweight rating on the stock in a report on Thursday, June 20th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Kraft Heinz from $42.00 to $43.00 and gave the stock a buy rating in a research report on Thursday, April 18th. Finally, Bank of America lifted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the company a buy rating in a report on Monday, April 15th. Six analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $39.75.

Kraft Heinz Stock Performance

NASDAQ KHC opened at $32.27 on Thursday. The company’s fifty day moving average is $35.39 and its two-hundred day moving average is $36.10. 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 current ratio of 1.09 and a quick ratio of 0.61. The firm has a market capitalization of $39.19 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 2.65 and a beta of 0.57.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The business had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.68 earnings per share. Equities research analysts forecast that Kraft Heinz will post 3.01 EPS for the current year.

Kraft Heinz Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, June 6th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 4.96%. The ex-dividend date of this dividend is Thursday, June 6th. Kraft Heinz’s payout ratio is presently 69.87%.

Insider Activity

In related news, insider Lande Rashida La sold 10,140 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $35.95, for a total transaction of $364,533.00. Following the transaction, 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 SEC, which can be accessed through this link. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. TCW Group Inc. acquired a new stake in Kraft Heinz in the fourth quarter worth about $1,098,000. Shell Asset Management Co. raised its stake in shares of Kraft Heinz by 251.3% during the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock worth $1,251,000 after buying an additional 24,199 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Kraft Heinz by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock valued at $5,079,000 after buying an additional 75,149 shares during the period. Bridgewater Associates LP boosted its stake in Kraft Heinz by 7.7% in the fourth quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after acquiring an additional 118,260 shares during the last quarter. Finally, Raymond James Trust N.A. grew its holdings in Kraft Heinz by 11.0% during the 4th quarter. Raymond James Trust N.A. now owns 39,610 shares of the company’s stock worth $1,465,000 after acquiring an additional 3,916 shares during the period. 78.17% of the stock is currently owned by institutional investors.

About Kraft Heinz

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.