A number of other equities analysts have also recently weighed in on KHC. Morgan Stanley increased their price target on Kraft Heinz from $30.00 to $32.00 and gave the stock an equal weight rating in a report on Monday, July 13th. Barclays reiterated a hold rating and set a $36.00 price target on shares of Kraft Heinz in a report on Sunday, July 19th. Wells Fargo & Co upgraded Kraft Heinz from an equal weight rating to an overweight rating and increased their price target for the stock from $28.00 to $38.00 in a report on Thursday, April 16th. Goldman Sachs Group cut Kraft Heinz from a neutral rating to a sell rating and lowered their price target for the stock from $32.00 to $30.00 in a report on Monday, June 22nd. Finally, DZ Bank upgraded Kraft Heinz from a sell rating to a hold rating and set a $27.00 target price for the company in a report on Tuesday, April 21st. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $32.95.
NASDAQ:KHC traded down $0.01 during trading hours on Thursday, hitting $34.38. The company had a trading volume of 11,209,466 shares, compared to its average volume of 5,762,332. The company has a current ratio of 1.09, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. The company has a 50-day moving average of $32.93 and a 200 day moving average of $29.36. The company has a market cap of $42.01 billion, a P/E ratio of -229.20, a P/E/G ratio of 2.36 and a beta of 1.01. Kraft Heinz has a 1 year low of $19.99 and a 1 year high of $35.87.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, August 28th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 4.65%. The ex-dividend date of this dividend is Thursday, August 27th. Kraft Heinz’s dividend payout ratio is currently 56.14%.
Several hedge funds and other institutional investors have recently modified their holdings of KHC. FDx Advisors Inc. acquired a new stake in shares of Kraft Heinz during the 1st quarter worth about $32,262,000. Norges Bank acquired a new stake in shares of Kraft Heinz during the 4th quarter worth about $234,912,000. Prudential PLC acquired a new stake in shares of Kraft Heinz during the 1st quarter worth about $71,466,000. First Eagle Investment Management LLC raised its position in shares of Kraft Heinz by 30.3% during the 1st quarter. First Eagle Investment Management LLC now owns 7,174,040 shares of the company’s stock worth $177,486,000 after acquiring an additional 1,669,633 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in shares of Kraft Heinz by 8.3% during the 1st quarter. Franklin Resources Inc. now owns 21,527,997 shares of the company’s stock worth $532,603,000 after acquiring an additional 1,642,137 shares in the last quarter. 57.72% of the stock is currently owned by institutional investors and hedge funds.
About Kraft Heinz
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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