Analysts Set Kraft Heinz Company (NASDAQ:KHC) PT at $26.58

Kraft Heinz Company (NASDAQ:KHC) has earned an average recommendation of “Reduce” from the twenty-two ratings firms that are currently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has given a strong buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $26.6316.

A number of research firms have issued reports on KHC. Morgan Stanley decreased their target price on Kraft Heinz from $28.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 30th. BNP Paribas Exane cut their price objective on Kraft Heinz from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Tuesday. Jefferies Financial Group restated a “hold” rating on shares of Kraft Heinz in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Kraft Heinz in a research note on Wednesday, October 8th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Kraft Heinz from $27.00 to $26.00 in a report on Thursday, October 30th.

Kraft Heinz Stock Up 0.1%

Shares of NASDAQ KHC opened at $24.71 on Wednesday. Kraft Heinz has a 52 week low of $23.70 and a 52 week high of $33.35. The stock’s fifty day moving average is $24.91 and its 200 day moving average is $26.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.73 and a current ratio of 1.13. The stock has a market capitalization of $29.25 billion, a P/E ratio of -6.64 and a beta of 0.09.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. The firm had revenue of $6.39 billion for the quarter. Kraft Heinz had a negative net margin of 17.35% and a positive return on equity of 7.26%. Sell-side analysts forecast that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, November 28th. This represents a $1.60 annualized dividend and a yield of 6.5%. Kraft Heinz’s dividend payout ratio (DPR) is presently -42.90%.

Hedge Funds Weigh In On Kraft Heinz

Several hedge funds and other institutional investors have recently bought and sold shares of KHC. Mirabella Financial Services LLP raised its position in shares of Kraft Heinz by 161.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 90,255 shares of the company’s stock worth $2,346,000 after acquiring an additional 55,718 shares in the last quarter. IFP Advisors Inc increased its stake in Kraft Heinz by 34.3% in the third quarter. IFP Advisors Inc now owns 8,221 shares of the company’s stock valued at $227,000 after purchasing an additional 2,100 shares in the last quarter. Investment Research Partners LLC acquired a new position in shares of Kraft Heinz during the third quarter valued at about $935,000. Strategic Advocates LLC bought a new position in shares of Kraft Heinz during the 3rd quarter worth about $187,000. Finally, CIBC Private Wealth Group LLC raised its stake in Kraft Heinz by 49.7% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 9,183 shares of the company’s stock worth $239,000 after buying an additional 3,047 shares during the period. 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.