Kraft Heinz (NASDAQ:KHC) Price Target Raised to $22.00 at JPMorgan Chase & Co.

Kraft Heinz (NASDAQ:KHC) had its price objective hoisted by JPMorgan Chase & Co. from $21.00 to $22.00 in a report published on Wednesday,Benzinga reports. They currently have an underweight rating on the stock.

Other equities research analysts have also issued research reports about the company. Sanford C. Bernstein lowered Kraft Heinz from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $25.00 to $21.00 in a research note on Wednesday, June 3rd. TD Cowen lowered their price target on Kraft Heinz from $24.00 to $20.00 and set a “hold” rating on the stock in a report on Wednesday, March 25th. Jefferies Financial Group dropped their price target on Kraft Heinz from $23.00 to $20.00 and set a “hold” rating for the company in a research note on Monday, March 30th. Piper Sandler increased their price objective on shares of Kraft Heinz from $23.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, June 25th. Finally, BTIG Research initiated coverage on shares of Kraft Heinz in a research report on Monday, April 13th. They set a “neutral” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Hold rating and five have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $23.06.

Kraft Heinz Stock Up 1.5%

NASDAQ KHC opened at $25.45 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 1.20 and a debt-to-equity ratio of 0.46. Kraft Heinz has a 52 week low of $21.03 and a 52 week high of $29.19. The company has a market capitalization of $30.18 billion, a P/E ratio of -5.24 and a beta of 0.09. The stock’s 50-day moving average price is $23.82 and its 200-day moving average price is $23.49.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.08. The business had revenue of $6.05 billion during the quarter, compared to analyst estimates of $5.89 billion. Kraft Heinz had a negative net margin of 23.05% and a positive return on equity of 7.26%. The company’s revenue was up .8% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 earnings per share. Kraft Heinz has set its FY 2026 guidance at 1.980-2.100 EPS. On average, equities research analysts predict that Kraft Heinz will post 2.07 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 5th were given a dividend of $0.40 per share. The ex-dividend date was Friday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 6.3%. Kraft Heinz’s dividend payout ratio is -32.92%.

Insider Activity

In other news, insider Diana Frost sold 18,502 shares of Kraft Heinz stock in a transaction that occurred on Thursday, June 18th. The stock was sold at an average price of $23.05, for a total value of $426,471.10. Following the completion of the transaction, the insider owned 102,667 shares in the company, valued at approximately $2,366,474.35. The trade was a 15.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Kraft Heinz by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 102,933,219 shares of the company’s stock valued at $2,496,131,000 after purchasing an additional 616,283 shares in the last quarter. Swiss Life Asset Management Ltd lifted its position in Kraft Heinz by 148.4% during the fourth quarter. Swiss Life Asset Management Ltd now owns 2,168,874 shares of the company’s stock worth $52,595,000 after buying an additional 1,295,688 shares in the last quarter. Westhampton Capital LLC acquired a new position in Kraft Heinz during the fourth quarter worth $1,222,000. Robeco Institutional Asset Management B.V. boosted its stake in Kraft Heinz by 14.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,224,052 shares of the company’s stock worth $78,183,000 after buying an additional 397,329 shares during the last quarter. Finally, Mirabella Financial Services LLP grew its holdings in Kraft Heinz by 161.3% in the 3rd quarter. Mirabella Financial Services LLP now owns 90,255 shares of the company’s stock valued at $2,346,000 after buying an additional 55,718 shares in the last quarter. 78.17% of the stock is owned by institutional investors.

About Kraft Heinz

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. The combination created one of the largest packaged-food companies in the world, built around well-known consumer brands. The merger was supported by major investors and established a multi-national platform for branded food products.

Kraft Heinz develops, manufactures, markets and distributes a broad portfolio of branded packaged foods and condiments.