Kraft Heinz Co. (KHC) Receives Consensus Recommendation of “Buy” from Analysts
Shares of Kraft Heinz Co. (NASDAQ:KHC) have been assigned a consensus recommendation of “Buy” from the sixteen ratings firms that are currently covering the company. Two investment analysts have rated the stock with a sell recommendation, twelve have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $100.35.
Several brokerages recently issued reports on KHC. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $100.00 price target on shares of Kraft Heinz in a research note on Saturday, August 13th. Stifel Nicolaus boosted their price target on Kraft Heinz from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Friday, August 5th. RBC Capital Markets reiterated an “outperform” rating and issued a $96.00 price target (up from $92.00) on shares of Kraft Heinz in a research note on Friday, August 5th. Zacks Investment Research upgraded shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 price objective for the company in a research report on Monday, August 8th. Finally, Morgan Stanley set a $97.00 price objective on shares of Kraft Heinz and gave the company a “buy” rating in a research report on Friday, August 5th.
Shares of Kraft Heinz (NASDAQ:KHC) traded up 0.34% on Monday, reaching $88.83. The company’s stock had a trading volume of 1,234,827 shares. The firm has a 50 day moving average of $88.39 and a 200 day moving average of $85.40. The company has a market cap of $108.16 billion, a PE ratio of 65.12 and a beta of 0.47. Kraft Heinz has a 52-week low of $68.18 and a 52-week high of $90.54.
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Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.14. Kraft Heinz had a return on equity of 5.78% and a net margin of 6.87%. The company earned $6.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the company posted $0.92 earnings per share. The business’s revenue was up 159.7% on a year-over-year basis. Analysts predict that Kraft Heinz will post $3.24 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 7th. Investors of record on Friday, August 26th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 2.71%. This is an increase from Kraft Heinz’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Wednesday, August 24th. Kraft Heinz’s dividend payout ratio is presently 181.82%.
In related news, major shareholder Global Food Holdings Lp 3G sold 2,808,371 shares of the stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $87.05, for a total value of $244,468,695.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.92% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Chesley Taft & Associates LLC increased its stake in Kraft Heinz by 2.4% in the third quarter. Chesley Taft & Associates LLC now owns 143,589 shares of the company’s stock worth $12,853,000 after buying an additional 3,357 shares during the last quarter. CrestPoint Capital Management LLC increased its stake in Kraft Heinz by 3.2% in the third quarter. CrestPoint Capital Management LLC now owns 12,900 shares of the company’s stock worth $1,155,000 after buying an additional 400 shares during the last quarter. Windward Capital Management Co. CA increased its stake in Kraft Heinz by 66.1% in the third quarter. Windward Capital Management Co. CA now owns 5,233 shares of the company’s stock worth $468,000 after buying an additional 2,083 shares during the last quarter. Harwood Advisory Group LLC increased its stake in Kraft Heinz by 15.6% in the third quarter. Harwood Advisory Group LLC now owns 24,228 shares of the company’s stock worth $2,169,000 after buying an additional 3,261 shares during the last quarter. Finally, National Pension Service increased its stake in Kraft Heinz by 8.5% in the third quarter. National Pension Service now owns 395,593 shares of the company’s stock worth $35,410,000 after buying an additional 31,105 shares during the last quarter. Institutional investors and hedge funds own 61.39% of the company’s stock.
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.
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