Kraft Heinz Co (NASDAQ:KHC)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $29.43, but opened at $30.96. Kraft Heinz shares last traded at $31.41, with a volume of 446,607 shares changing hands.
A number of research firms recently weighed in on KHC. Morgan Stanley lifted their price objective on shares of Kraft Heinz from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Barclays set a $32.00 price objective on shares of Kraft Heinz and gave the company a “hold” rating in a research report on Friday, November 1st. Guggenheim set a $25.00 price objective on shares of Kraft Heinz and gave the company a “sell” rating in a research report on Monday, August 26th. ValuEngine upgraded shares of Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Goldman Sachs Group lowered shares of Kraft Heinz from a “neutral” rating to a “sell” rating and set a $29.00 price objective on the stock. in a research report on Thursday. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.00.
The company has a quick ratio of 0.65, a current ratio of 1.00 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $29.10 and a 200 day simple moving average of $29.55. The company has a market cap of $40.27 billion, a price-to-earnings ratio of 8.87, a P/E/G ratio of 2.61 and a beta of 0.80.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.15. The business had revenue of $6.08 billion during the quarter, compared to the consensus estimate of $6.13 billion. Kraft Heinz had a positive return on equity of 6.23% and a negative net margin of 42.85%. The business’s revenue was down 4.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.78 EPS. Equities analysts anticipate that Kraft Heinz Co will post 2.81 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 5.11%. The ex-dividend date of this dividend is Thursday, November 14th. Kraft Heinz’s dividend payout ratio (DPR) is presently 45.33%.
In other news, major shareholder Global Food Holdings Lp 3G sold 25,068,657 shares of Kraft Heinz stock in a transaction on Monday, September 16th. The stock was sold at an average price of $28.44, for a total transaction of $712,952,605.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Damme Alexandre Van purchased 250,000 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were purchased at an average cost of $28.45 per share, with a total value of $7,112,500.00. Following the purchase, the director now directly owns 8,168 shares in the company, valued at $232,379.60. The disclosure for this purchase can be found here. Insiders own 0.29% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Putnam FL Investment Management Co. acquired a new position in Kraft Heinz in the 2nd quarter valued at about $27,000. Zions Bancorporation N.A. raised its stake in Kraft Heinz by 303.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock valued at $30,000 after purchasing an additional 722 shares during the last quarter. Atlas Capital Advisors LLC acquired a new position in Kraft Heinz in the 2nd quarter valued at about $31,000. Horrell Capital Management Inc. acquired a new position in Kraft Heinz in the 2nd quarter valued at about $31,000. Finally, Ossiam acquired a new position in Kraft Heinz in the 2nd quarter valued at about $31,000. 56.93% of the stock is owned by institutional investors and hedge funds.
About Kraft Heinz (NASDAQ:KHC)
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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