Kraft Heinz Co. (KHC) Upgraded at Vetr Inc.
Kraft Heinz Co. (NASDAQ:KHC) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a note issued to investors on Thursday. The brokerage currently has a $98.22 price objective on the stock. Vetr‘s price target would suggest a potential upside of 12.38% from the company’s previous close.
Several other research analysts have also commented on KHC. Zacks Investment Research lowered Kraft Heinz from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. RBC Capital Markets reiterated an “outperform” rating and set a $96.00 price target (up previously from $92.00) on shares of Kraft Heinz in a report on Friday, August 5th. Stifel Nicolaus lifted their price target on Kraft Heinz from $90.00 to $95.00 and gave the stock a “buy” rating in a report on Friday, August 5th. Deutsche Bank AG upgraded Kraft Heinz from a “hold” rating to a “buy” rating and lifted their price target for the stock from $85.00 to $103.00 in a report on Friday, August 5th. Finally, Royal Bank Of Canada lifted their price target on Kraft Heinz from $92.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, August 5th. Two analysts have rated the stock with a sell rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $99.17.
Kraft Heinz (NASDAQ:KHC) traded down 0.10% during mid-day trading on Thursday, reaching $87.40. 1,723,648 shares of the company were exchanged. The stock has a market capitalization of $106.42 billion, a price-to-earnings ratio of 64.08 and a beta of 0.47. The stock’s 50-day moving average price is $88.64 and its 200-day moving average price is $85.08. Kraft Heinz has a 1-year low of $68.18 and a 1-year high of $90.54.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/08/kraft-heinz-co-khc-upgraded-at-vetr-inc.html
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.71 by $0.14. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The business had revenue of $6.79 billion for the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the firm earned $0.92 EPS. The company’s quarterly revenue was up 159.7% compared to the same quarter last year. On average, equities research analysts anticipate that Kraft Heinz will post $3.24 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Stockholders of record on Friday, August 26th were given a dividend of $0.60 per share. The ex-dividend date was Wednesday, August 24th. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.75%. Kraft Heinz’s payout ratio is currently 181.82%.
In other news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the business’s stock in a transaction dated Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total transaction of $244,468,695.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 26.92% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Enterprise Financial Services Corp boosted its stake in Kraft Heinz by 8.5% in the second quarter. Enterprise Financial Services Corp now owns 1,280 shares of the company’s stock valued at $113,000 after buying an additional 100 shares during the last quarter. Balentine LLC boosted its stake in shares of Kraft Heinz by 43.3% in the first quarter. Balentine LLC now owns 1,605 shares of the company’s stock worth $126,000 after buying an additional 485 shares in the last quarter. Blue Chip Partners Inc. purchased a new stake in shares of Kraft Heinz during the second quarter worth $128,000. Iowa State Bank purchased a new stake in shares of Kraft Heinz during the second quarter worth $129,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock worth $135,000 after buying an additional 94 shares in the last quarter. 61.30% of the stock is owned by institutional investors and hedge funds.
Kraft Heinz Company Profile
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
To view Vetr’s full report, visit Vetr’s official website.
Receive News & Ratings for Kraft Heinz Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kraft Heinz Co. and related companies with MarketBeat.com's FREE daily email newsletter.