Brokerages Set The Kraft Heinz Company (NASDAQ:KHC) PT at $33.36

Shares of The Kraft Heinz Company (NASDAQ:KHC) have received an average recommendation of “Reduce” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $30.86.

KHC has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday. TD Cowen decreased their target price on shares of Kraft Heinz from $34.00 to $32.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. Piper Sandler decreased their target price on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday. StockNews.com lowered shares of Kraft Heinz from a “hold” rating to a “sell” rating in a research note on Friday. Finally, Citigroup downgraded shares of Kraft Heinz from a “buy” rating to a “neutral” rating and cut their price target for the company from $34.00 to $28.00 in a report on Thursday.

Hedge Funds Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KHC. DoubleLine ETF Adviser LP raised its stake in shares of Kraft Heinz by 2.6% in the fourth quarter. DoubleLine ETF Adviser LP now owns 50,242 shares of the company’s stock worth $1,543,000 after acquiring an additional 1,263 shares during the last quarter. Widmann Financial Services Inc. raised its stake in shares of Kraft Heinz by 9.2% in the fourth quarter. Widmann Financial Services Inc. now owns 7,725 shares of the company’s stock worth $237,000 after acquiring an additional 650 shares during the last quarter. Parvin Asset Management LLC bought a new position in shares of Kraft Heinz in the fourth quarter worth about $255,000. Rehmann Capital Advisory Group raised its stake in shares of Kraft Heinz by 3.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 13,902 shares of the company’s stock worth $427,000 after acquiring an additional 408 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Kraft Heinz by 12.6% in the fourth quarter. Northern Trust Corp now owns 9,289,691 shares of the company’s stock worth $285,286,000 after acquiring an additional 1,039,885 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors and hedge funds.

Kraft Heinz Price Performance

Shares of NASDAQ:KHC opened at $28.92 on Thursday. The firm’s 50 day moving average is $29.90 and its two-hundred day moving average is $32.74. Kraft Heinz has a 52 week low of $27.25 and a 52 week high of $38.96. The firm has a market capitalization of $34.97 billion, a P/E ratio of 26.05, a PEG ratio of 3.74 and a beta of 0.47. The company has a current ratio of 1.06, a quick ratio of 0.56 and a debt-to-equity ratio of 0.40.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 EPS for the quarter, beating the consensus estimate of $0.78 by $0.06. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. Analysts anticipate that Kraft Heinz will post 3 earnings per share for the current year.

Kraft Heinz Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 5.53%. Kraft Heinz’s dividend payout ratio (DPR) is currently 144.14%.

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.