Piper Sandler Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $31.00

Kraft Heinz (NASDAQ:KHC) had its price objective decreased by Piper Sandler from $35.00 to $31.00 in a research note published on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the company. TD Cowen dropped their price objective on Kraft Heinz from $34.00 to $32.00 and set a “hold” rating on the stock in a research note on Wednesday, January 8th. Barclays reduced their price objective on Kraft Heinz from $36.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Friday, November 1st. Evercore ISI reaffirmed an “in-line” rating and issued a $35.00 price objective (down from $38.00) on shares of Kraft Heinz in a research note on Tuesday, January 7th. The Goldman Sachs Group dropped their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Thursday, October 31st. Finally, Wells Fargo & Company lowered their price objective on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating for the company in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $30.86.

Kraft Heinz Stock Down 1.1 %

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

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 anticipate that Kraft Heinz will post 3 EPS for the current year.

Kraft Heinz Dividend Announcement

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

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently bought and sold shares of KHC. Sawyer & Company Inc bought a new stake in Kraft Heinz during the fourth quarter worth approximately $25,000. Fortitude Family Office LLC lifted its holdings in Kraft Heinz by 249.5% during 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 purchased a new stake in Kraft Heinz during the fourth quarter worth $26,000. Ashton Thomas Securities LLC purchased a new stake in Kraft Heinz during the third quarter worth $27,000. Finally, Mountain Hill Investment Partners Corp. purchased a new stake in shares of Kraft Heinz during the 4th quarter valued at $29,000. 78.17% of the stock is currently owned by hedge funds and other 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.