Kraft Heinz (NASDAQ:KHC) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Kraft Heinz (NASDAQ:KHC) from a sell rating to a hold rating in a research note published on Thursday, BidAskClub reports.

Other equities research analysts also recently issued research reports about the stock. UBS Group set a $30.00 price target on shares of Kraft Heinz and gave the stock a hold rating in a research note on Friday, August 9th. BMO Capital Markets reduced their target price on shares of Kraft Heinz from $40.00 to $33.00 and set a market perform rating on the stock in a research note on Monday, August 12th. Credit Suisse Group set a $26.00 target price on shares of Kraft Heinz and gave the company a sell rating in a research note on Friday, August 9th. Evercore ISI assumed coverage on shares of Kraft Heinz in a research note on Tuesday, June 11th. They issued an in-line rating and a $32.00 target price on the stock. Finally, Guggenheim set a $25.00 target price on shares of Kraft Heinz and gave the company a sell rating in a research note on Monday, August 26th. Five analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $36.05.

Shares of Kraft Heinz stock opened at $29.25 on Thursday. The company’s fifty day simple moving average is $27.76 and its 200-day simple moving average is $30.70. The company has a market cap of $35.42 billion, a price-to-earnings ratio of 8.29, a PEG ratio of 2.43 and a beta of 0.77. The company has a current ratio of 1.18, a quick ratio of 0.78 and a debt-to-equity ratio of 0.58. Kraft Heinz has a 1 year low of $24.86 and a 1 year high of $59.36.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. The firm had revenue of $5.96 billion for the quarter, compared to the consensus estimate of $6.07 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, research analysts forecast that Kraft Heinz will post 2.65 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 21st were issued a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 5.47%. Kraft Heinz’s dividend payout ratio is 45.33%.

Several institutional investors have recently added to or reduced their stakes in KHC. Meridian Wealth Management LLC bought a new position in shares of Kraft Heinz in the first quarter valued at about $27,000. Putnam FL Investment Management Co. bought a new stake in Kraft Heinz during the 2nd quarter worth about $27,000. Zions Bancorporation N.A. raised its holdings in Kraft Heinz by 303.4% during the 2nd quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock worth $30,000 after purchasing an additional 722 shares during the last quarter. Atlas Capital Advisors LLC bought a new stake in Kraft Heinz during the 2nd quarter worth about $31,000. Finally, Horrell Capital Management Inc. bought a new stake in Kraft Heinz during the 2nd quarter worth about $31,000. 56.61% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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