Kraft Heinz (NASDAQ:KHC) Research Coverage Started at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Kraft Heinz (NASDAQ:KHC) in a research note published on Monday, MarketBeat.com reports. The firm issued a sell rating and a $34.00 price objective on the stock.

A number of other equities research analysts also recently weighed in on KHC. Bank of America lowered their target price on Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a report on Wednesday, July 10th. Barclays raised their price target on shares of Kraft Heinz from $34.00 to $36.00 and gave the company an equal weight rating in a research report on Thursday, August 1st. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Kraft Heinz from $43.00 to $39.00 and set a buy rating on the stock in a report on Wednesday, July 31st. Evercore ISI reduced their target price on Kraft Heinz from $42.00 to $38.00 and set an overweight rating for the company in a report on Wednesday, July 31st. Finally, Citigroup reduced their price target on shares of Kraft Heinz from $42.00 to $38.00 and set a buy rating for the company in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $37.31.

Kraft Heinz Stock Performance

NASDAQ:KHC opened at $34.49 on Monday. Kraft Heinz has a 1-year low of $30.68 and a 1-year high of $38.96. The company has a current ratio of 1.01, a quick ratio of 0.61 and a debt-to-equity ratio of 0.39. The stock has a market cap of $41.88 billion, a P/E ratio of 15.06, a price-to-earnings-growth ratio of 3.52 and a beta of 0.53. The stock’s 50-day moving average is $33.29 and its 200-day moving average is $35.17.

Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.05. Kraft Heinz had a return on equity of 7.38% and a net margin of 7.30%. The firm had revenue of $6.50 billion for the quarter, compared to analyst estimates of $6.55 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business’s revenue was down 3.3% on a year-over-year basis. Equities research analysts anticipate that Kraft Heinz will post 3.02 earnings per share for the current year.

Kraft Heinz Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, August 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.64%. The ex-dividend date is Friday, August 30th. Kraft Heinz’s payout ratio is 69.87%.

Insider Activity at Kraft Heinz

In other Kraft Heinz news, insider Cory Onell sold 4,076 shares of Kraft Heinz stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $36.00, for a total transaction of $146,736.00. Following the completion of the sale, the insider now directly owns 143,970 shares in the company, valued at $5,182,920. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kraft Heinz

Institutional investors have recently modified their holdings of the company. TCW Group Inc. purchased a new stake in Kraft Heinz during the fourth quarter valued at about $1,098,000. Shell Asset Management Co. lifted its position in Kraft Heinz by 251.3% in the fourth quarter. Shell Asset Management Co. now owns 33,829 shares of the company’s stock valued at $1,251,000 after purchasing an additional 24,199 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Kraft Heinz by 120.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 137,353 shares of the company’s stock worth $5,079,000 after purchasing an additional 75,149 shares during the last quarter. Bridgewater Associates LP raised its holdings in Kraft Heinz by 7.7% during the 4th quarter. Bridgewater Associates LP now owns 1,661,700 shares of the company’s stock valued at $61,450,000 after buying an additional 118,260 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Kraft Heinz by 13.2% in the 1st quarter. Lazard Asset Management LLC now owns 2,006,917 shares of the company’s stock worth $74,053,000 after acquiring an additional 234,783 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

Kraft Heinz Company Profile

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.