TheStreet Lowers Kraft Heinz (KHC) to D+
KHC has been the topic of a number of other research reports. Berenberg Bank set a $60.00 price target on Kraft Heinz and gave the company a buy rating in a research report on Tuesday, January 22nd. JPMorgan Chase & Co. downgraded Kraft Heinz from an overweight rating to a neutral rating and lowered their price target for the company from $52.00 to $37.00 in a research report on Friday, February 22nd. UBS Group downgraded Kraft Heinz from a buy rating to a neutral rating and lowered their price target for the company from $55.00 to $39.00 in a research report on Friday, February 22nd. Piper Jaffray Companies downgraded Kraft Heinz from an overweight rating to a neutral rating and decreased their price objective for the stock from $62.00 to $42.00 in a report on Friday, February 22nd. Finally, Credit Suisse Group reiterated an underperform rating on shares of Kraft Heinz in a report on Friday, March 8th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $45.35.
NASDAQ KHC opened at $32.09 on Wednesday. Kraft Heinz has a twelve month low of $31.60 and a twelve month high of $65.84. The company has a current ratio of 1.22, a quick ratio of 0.86 and a debt-to-equity ratio of 0.59. The stock has a market cap of $39.13 billion, a price-to-earnings ratio of 9.09, a PEG ratio of 2.41 and a beta of 0.58.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Stockholders of record on Friday, March 8th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $1.60 annualized dividend and a dividend yield of 4.99%. Kraft Heinz’s dividend payout ratio is currently 45.33%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in KHC. Cerebellum GP LLC increased its holdings in Kraft Heinz by 83.3% during the 4th quarter. Cerebellum GP LLC now owns 5,821 shares of the company’s stock valued at $251,000 after purchasing an additional 2,646 shares during the period. Vanguard Group Inc. increased its holdings in Kraft Heinz by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 46,457,007 shares of the company’s stock valued at $2,560,246,000 after purchasing an additional 1,123,288 shares during the period. Legal & General Group Plc increased its holdings in Kraft Heinz by 6.0% during the 3rd quarter. Legal & General Group Plc now owns 3,065,442 shares of the company’s stock valued at $168,904,000 after purchasing an additional 174,254 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Kraft Heinz by 29.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 64,155 shares of the company’s stock valued at $2,761,000 after purchasing an additional 14,445 shares during the period. Finally, B. Riley Wealth Management Inc. purchased a new position in Kraft Heinz during the 3rd quarter valued at about $384,000. Hedge funds and other institutional investors own 61.80% of the company’s stock.
About Kraft Heinz
The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.
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