JPMorgan Chase & Co. Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $31.00

Kraft Heinz (NASDAQ:KHC) had its price objective reduced by JPMorgan Chase & Co. from $32.00 to $31.00 in a report issued on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other research firms have also recently commented on KHC. Evercore ISI restated an “in-line” rating and issued a $35.00 price target (down previously from $38.00) on shares of Kraft Heinz in a report on Tuesday, January 7th. Wells Fargo & Company lowered their price target on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a report on Thursday. Mizuho cut Kraft Heinz from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $38.00 to $31.00 in a report on Monday, February 10th. Stifel Nicolaus lowered their price target on Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a report on Thursday. Finally, Piper Sandler lowered their price target on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday. Three investment analysts have rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Trading Down 1.1 %

Shares of KHC stock opened at $28.92 on Thursday. The firm has a 50-day moving average price of $29.90 and a 200 day moving average price of $32.74. Kraft Heinz has a twelve month low of $27.25 and a twelve month high of $38.96. The company has a market capitalization of $34.97 billion, a price-to-earnings 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 earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share 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%. Research analysts forecast that Kraft Heinz will post 3 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The business 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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend is Friday, March 7th. Kraft Heinz’s payout ratio is 144.14%.

Institutional Investors Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently modified their holdings of KHC. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz in the fourth quarter worth about $25,000. Fortitude Family Office LLC boosted its position in shares of Kraft Heinz by 249.5% in the third quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after buying an additional 529 shares during the period. Generali Investments Management Co LLC acquired a new position in shares of Kraft Heinz in the fourth quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Kraft Heinz in the third quarter worth about $27,000. Finally, Mountain Hill Investment Partners Corp. acquired a new position in shares of Kraft Heinz in the fourth quarter worth about $29,000. 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.