Other research analysts have also recently issued research reports about the company. TheStreet raised The Kraft Heinz from a c rating to a b- rating in a report on Thursday, August 3rd. Royal Bank Of Canada set a $96.00 price target on The Kraft Heinz and gave the company a buy rating in a report on Saturday, June 3rd. Credit Suisse Group set a $100.00 price target on The Kraft Heinz and gave the company a buy rating in a report on Saturday, July 29th. Zacks Investment Research raised The Kraft Heinz from a sell rating to a hold rating in a report on Tuesday, May 2nd. Finally, Vetr cut The Kraft Heinz from a buy rating to a hold rating and set a $95.36 price target on the stock. in a report on Wednesday, April 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $97.45.
The Kraft Heinz (KHC) opened at 86.46 on Monday. The stock has a market cap of $105.28 billion, a P/E ratio of 30.77 and a beta of 0.44. The Kraft Heinz has a 52-week low of $79.69 and a 52-week high of $97.77. The firm’s 50-day moving average price is $86.25 and its 200 day moving average price is $89.80.
The Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.02. The company had revenue of $6.68 billion for the quarter, compared to analysts’ expectations of $6.73 billion. The Kraft Heinz had a return on equity of 7.52% and a net margin of 14.67%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 earnings per share. Equities analysts predict that The Kraft Heinz will post $3.24 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be paid a dividend of $0.625 per share. This is an increase from The Kraft Heinz’s previous quarterly dividend of $0.60. This represents a $2.50 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, August 16th. The Kraft Heinz’s payout ratio is 76.68%.
Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its stake in shares of The Kraft Heinz by 2,314.8% in the first quarter. BlackRock Inc. now owns 32,552,898 shares of the company’s stock valued at $2,956,129,000 after buying an additional 31,204,852 shares during the period. Morgan Stanley increased its stake in shares of The Kraft Heinz by 55.6% in the first quarter. Morgan Stanley now owns 8,364,778 shares of the company’s stock valued at $759,605,000 after buying an additional 2,988,664 shares during the period. Vanguard Group Inc. increased its stake in shares of The Kraft Heinz by 3.9% in the first quarter. Vanguard Group Inc. now owns 42,149,547 shares of the company’s stock valued at $3,827,601,000 after buying an additional 1,585,231 shares during the period. Thornburg Investment Management Inc. increased its stake in shares of The Kraft Heinz by 9,061.9% in the first quarter. Thornburg Investment Management Inc. now owns 1,145,240 shares of the company’s stock valued at $103,999,000 after buying an additional 1,132,740 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of The Kraft Heinz by 128.3% in the second quarter. Principal Financial Group Inc. now owns 1,932,498 shares of the company’s stock valued at $165,499,000 after buying an additional 1,086,062 shares during the period. 62.01% of the stock is currently owned by institutional investors.
About The Kraft Heinz
The Kraft Heinz Company is a food and beverage company. The Company is engaged in the manufacturing and marketing of food and beverage products, including condiments and sauces, cheese and dairy, meals, meats, refreshment beverages, coffee and other grocery products. The Company’s segments include the United States, Canada and Europe.
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