Piper Sandler Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $41.00

Kraft Heinz (NASDAQ:KHCFree Report) had its target price reduced by Piper Sandler from $42.00 to $41.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently issued reports on KHC. Bank of America boosted their price objective on Kraft Heinz from $40.00 to $42.00 and gave the stock a buy rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on Kraft Heinz from $42.00 to $43.00 and gave the stock a buy rating in a report on Thursday, April 18th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $40.00.

Read Our Latest Report on Kraft Heinz

Kraft Heinz Stock Performance

KHC opened at $32.95 on Thursday. The business’s 50-day moving average price is $35.62 and its two-hundred day moving average price is $36.17. Kraft Heinz has a 1 year low of $30.68 and a 1 year high of $38.96. The company has a market capitalization of $40.01 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 2.63 and a beta of 0.57. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.09 and a quick ratio of 0.61.

Kraft Heinz (NASDAQ:KHCGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.01. The firm had revenue of $6.41 billion for the quarter, compared to the consensus estimate of $6.43 billion. Kraft Heinz had a return on equity of 7.41% and a net margin of 10.62%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.68 earnings per share. Equities analysts expect that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, June 6th will be issued a $0.40 dividend. The ex-dividend date is Thursday, June 6th. This represents a $1.60 dividend on an annualized basis and a yield of 4.86%. Kraft Heinz’s payout ratio is 69.87%.

Insider Activity at Kraft Heinz

In related news, insider Lande Rashida La sold 10,140 shares of the stock in a transaction on Monday, May 6th. The stock was sold at an average price of $35.95, for a total value of $364,533.00. Following the completion of the sale, the insider now directly owns 158,266 shares in the company, valued at $5,689,662.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.32% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently made changes to their positions in KHC. QRG Capital Management Inc. bought a new position in Kraft Heinz in the 3rd quarter valued at about $895,000. Envestnet Asset Management Inc. lifted its position in Kraft Heinz by 45.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,684,872 shares of the company’s stock valued at $56,679,000 after acquiring an additional 523,162 shares in the last quarter. FMR LLC lifted its position in Kraft Heinz by 37.9% in the 3rd quarter. FMR LLC now owns 3,029,052 shares of the company’s stock valued at $101,897,000 after acquiring an additional 832,653 shares in the last quarter. CI Investments Inc. lifted its position in Kraft Heinz by 225.3% in the 3rd quarter. CI Investments Inc. now owns 7,141 shares of the company’s stock valued at $240,000 after acquiring an additional 4,946 shares in the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Kraft Heinz in the 3rd quarter valued at about $198,000. Institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

Receive News & Ratings for Kraft Heinz Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz and related companies with MarketBeat.com's FREE daily email newsletter.