Kraft Heinz (NASDAQ:KHC) Given New $23.00 Price Target at Wells Fargo & Company

Kraft Heinz (NASDAQ:KHC) had its price objective cut by Wells Fargo & Company from $25.00 to $23.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also issued reports on KHC. UBS Group boosted their target price on shares of Kraft Heinz from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Weiss Ratings downgraded shares of Kraft Heinz from a “sell (d)” rating to a “sell (d-)” rating in a research note on Thursday, August 6th. JPMorgan Chase & Co. lifted their price objective on shares of Kraft Heinz from $21.00 to $22.00 and gave the company an “underweight” rating in a report on Wednesday, July 15th. Royal Bank Of Canada reissued an “outperform” rating and issued a $32.00 price objective on shares of Kraft Heinz in a research report on Thursday, September 24th. Finally, Evercore set a $24.00 price objective on shares of Kraft Heinz in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Buy rating, eleven have assigned a Hold rating and five have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $23.75.

Kraft Heinz Trading Down 1.5%

Shares of NASDAQ KHC opened at $21.86 on Monday. Kraft Heinz has a fifty-two week low of $21.03 and a fifty-two week high of $28.09. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.68 and a current ratio of 1.06. The company has a market cap of $25.92 billion, a price-to-earnings ratio of -7.64, a PEG ratio of 2.99 and a beta of 0.12. The business’s 50 day moving average price is $24.89 and its 200-day moving average price is $23.95.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.03. The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.18 billion. Kraft Heinz had a positive return on equity of 7.10% and a negative net margin of 13.64%.Kraft Heinz’s revenue was down 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.69 EPS. Kraft Heinz has set its FY 2026 guidance at 2.030-2.090 EPS. On average, sell-side analysts expect that Kraft Heinz will post 2.06 earnings per share for the current year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, September 4th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.3%. Kraft Heinz’s dividend payout ratio is presently -55.94%.

Hedge Funds Weigh In On Kraft Heinz

Several institutional investors have recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in shares of Kraft Heinz by 5.0% in the third quarter. Versant Capital Management Inc now owns 25,976 shares of the company’s stock valued at $590,000 after acquiring an additional 1,228 shares in the last quarter. Parrish Capital LLC increased its position in Kraft Heinz by 8.9% during the 3rd quarter. Parrish Capital LLC now owns 45,475 shares of the company’s stock valued at $1,033,000 after purchasing an additional 3,700 shares during the period. Talon Private Wealth LLC purchased a new position in Kraft Heinz during the 2nd quarter valued at about $204,000. Core Capital Management & Research inc. bought a new stake in shares of Kraft Heinz in the 2nd quarter valued at about $8,517,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Kraft Heinz by 11.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 561,627 shares of the company’s stock valued at $13,266,000 after purchasing an additional 57,092 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company that develops, manufactures and markets packaged foods and beverages for consumers, retailers and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and other grocery items.

The company’s brands include Heinz, Kraft, Oscar Mayer, Philadelphia, Velveeta, Lunchables, Maxwell House, Capri Sun, Jell-O, Ore-Ida, Classico, Grey Poupon and Planters.