Piper Sandler Reaffirms “Neutral” Rating for Kraft Heinz (NASDAQ:KHC)

Piper Sandler reissued their neutral rating on shares of Kraft Heinz (NASDAQ:KHC) in a research note published on Tuesday morning, Marketbeat.com reports. Piper Sandler currently has a $35.00 price target on the stock, down from their prior price target of $40.00.

Other analysts have also recently issued research reports about the company. Barclays decreased their target price on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a report on Friday, November 1st. The Goldman Sachs Group decreased their price objective on shares of Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. dropped their target price on shares of Kraft Heinz from $38.00 to $37.00 and set a “neutral” rating for the company in a research note on Wednesday, July 31st. Stifel Nicolaus cut shares of Kraft Heinz from a “buy” rating to a “hold” rating and decreased their price target for the company from $40.00 to $38.00 in a research note on Friday, October 25th. Finally, Mizuho lowered their price target on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $36.55.

Kraft Heinz Stock Up 2.3 %

KHC opened at $31.81 on Tuesday. Kraft Heinz has a twelve month low of $30.40 and a twelve month high of $38.96. The firm has a market cap of $38.46 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 3.49 and a beta of 0.49. The firm’s 50-day simple moving average is $34.08 and its 200-day simple moving average is $34.27. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.01. The company had revenue of $6.38 billion during the quarter, compared to analyst estimates of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The company’s revenue was down 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.72 earnings per share. Equities research analysts anticipate that Kraft Heinz will post 3.01 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, November 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, November 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

Insider Buying and Selling

In other Kraft Heinz news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total value of $1,505,250.00. Following the completion of the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at approximately $5,626,122.75. This represents a 21.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is owned by insiders.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors and hedge funds have recently made changes to their positions in the company. Fortitude Family Office LLC lifted its holdings in shares of Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock valued at $26,000 after purchasing an additional 529 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Kraft Heinz in the first quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new stake in shares of Kraft Heinz during the third quarter worth $27,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Kraft Heinz by 1,077.0% during the third quarter. DiNuzzo Private Wealth Inc. now owns 871 shares of the company’s stock worth $31,000 after acquiring an additional 797 shares during the period. Finally, Asset Dedication LLC lifted its position in Kraft Heinz by 94.8% in the 2nd quarter. Asset Dedication LLC now owns 978 shares of the company’s stock valued at $32,000 after acquiring an additional 476 shares in the last quarter. Institutional investors and hedge funds own 78.17% of the company’s stock.

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.