Barclays Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $29.00

Kraft Heinz (NASDAQ:KHC) had its price objective lowered by Barclays from $33.00 to $29.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other equities research analysts have also recently issued reports on KHC. UBS Group reduced their price objective on Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Evercore ISI restated an “in-line” rating and set a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research report on Tuesday, January 7th. Stifel Nicolaus lowered their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price target 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. Finally, Piper Sandler dropped their price target on Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday. Three analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Stock Down 1.1 %

Shares of KHC opened at $28.92 on Friday. The firm 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 debt-to-equity ratio of 0.40, a quick ratio of 0.56 and a current ratio of 1.06. The business’s fifty day moving average price is $29.90 and its two-hundred day moving average price is $32.73. Kraft Heinz has a 52 week low of $27.25 and a 52 week high of $38.96.

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

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 7th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.53%. Kraft Heinz’s payout ratio is 144.14%.

Institutional Trading of Kraft Heinz

A number of large investors have recently bought and sold shares of KHC. Sawyer & Company Inc acquired a new stake in Kraft Heinz during the 4th quarter worth about $25,000. Fortitude Family Office LLC grew its holdings in Kraft Heinz by 249.5% during the 3rd quarter. Fortitude Family Office LLC now owns 741 shares of the company’s stock worth $26,000 after acquiring an additional 529 shares during the period. Generali Investments Management Co LLC acquired a new stake in Kraft Heinz during the 4th quarter worth about $26,000. Ashton Thomas Securities LLC acquired a new stake in Kraft Heinz during the 3rd quarter worth about $27,000. Finally, Mountain Hill Investment Partners Corp. acquired a new stake in Kraft Heinz during the 4th quarter worth about $29,000. 78.17% of the stock is currently owned by institutional investors and hedge funds.

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.