Kraft Heinz (NASDAQ:KHC) Given New $42.00 Price Target at Bank of America

Kraft Heinz (NASDAQ:KHC) had its price objective upped by Bank of America from $40.00 to $42.00 in a research report sent to investors on Monday, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company dropped their target price on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating for the company in a report on Thursday, February 15th. Citigroup began coverage on Kraft Heinz in a report on Thursday, February 1st. They set a buy rating and a $43.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $40.71.

Kraft Heinz Stock Up 1.0 %

KHC opened at $36.31 on Monday. The business’s fifty day simple moving average is $35.86 and its 200 day simple moving average is $35.30. The company has a quick ratio of 0.54, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. Kraft Heinz has a 52 week low of $30.68 and a 52 week high of $41.47. The stock has a market cap of $44.14 billion, a PE ratio of 15.72, a P/E/G ratio of 2.84 and a beta of 0.67.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.77 by $0.01. The firm had revenue of $6.86 billion for the quarter, compared to the consensus estimate of $6.99 billion. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.85 earnings per share. As a group, research analysts expect that Kraft Heinz will post 3.02 earnings per share for the current fiscal year.

Kraft Heinz Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 8th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 4.41%. The ex-dividend date was Thursday, March 7th. Kraft Heinz’s dividend payout ratio (DPR) is currently 69.26%.

Institutional Investors Weigh In On Kraft Heinz

Several institutional investors and hedge funds have recently bought and sold shares of KHC. Steward Partners Investment Solutions LLC purchased a new position in shares of Kraft Heinz in the 4th quarter valued at approximately $25,000. OFI Invest Asset Management purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at approximately $26,000. Ancora Advisors LLC lifted its stake in shares of Kraft Heinz by 69.9% in the 1st quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after purchasing an additional 272 shares during the period. Riverview Trust Co purchased a new position in shares of Kraft Heinz in the 3rd quarter valued at approximately $27,000. Finally, O Dell Group LLC purchased a new position in shares of Kraft Heinz in the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

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.