Vetr Inc. Downgrades Kraft Heinz Co. (KHC) to Buy
Kraft Heinz Co. (NASDAQ:KHC) was downgraded by equities research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They presently have a $98.22 target price on the stock. Vetr‘s price target would suggest a potential upside of 12.74% from the stock’s current price.
A number of other equities analysts have also recently issued reports on the stock. Sanford C. Bernstein set a $110.00 price objective on shares of Kraft Heinz and gave the stock a “buy” rating in a research report on Monday, September 12th. Morgan Stanley lowered their price objective on shares of Kraft Heinz from $100.00 to $97.00 and set an “overweight” rating for the company in a research report on Wednesday, August 31st. Susquehanna lowered their price objective on shares of Kraft Heinz from $118.00 to $114.00 and set a “positive” rating for the company in a research report on Friday, August 26th. Credit Suisse Group AG reiterated an “outperform” rating and set a $100.00 price objective (up from $98.00) on shares of Kraft Heinz in a research report on Tuesday, August 16th. Finally, Goldman Sachs Group Inc. reiterated a “buy” rating and set a $100.00 price objective on shares of Kraft Heinz in a research report on Saturday, August 13th. Two investment analysts have rated the stock with a sell rating and fourteen have assigned a buy rating to the stock. Kraft Heinz presently has an average rating of “Buy” and an average target price of $98.79.
Shares of Kraft Heinz (NASDAQ:KHC) opened at 87.12 on Monday. The company’s 50 day moving average is $88.58 and its 200-day moving average is $84.12. The firm has a market capitalization of $106.08 billion, a price-to-earnings ratio of 63.87 and a beta of 0.47. Kraft Heinz has a one year low of $68.18 and a one year high of $90.54.
Kraft Heinz (NASDAQ:KHC) last released its quarterly earnings data on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.71 by $0.14. The business earned $6.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The firm’s quarterly revenue was up 159.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.92 EPS. Equities analysts expect that Kraft Heinz will post $3.24 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, August 26th will be paid a $0.60 dividend. This is a positive change from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio is currently 181.82%.
Several large investors have recently bought and sold shares of KHC. Envestnet Asset Management Inc. raised its stake in Kraft Heinz by 22.6% in the first quarter. Envestnet Asset Management Inc. now owns 353,441 shares of the company’s stock worth $27,766,000 after buying an additional 65,072 shares in the last quarter. Natixis raised its stake in Kraft Heinz by 214.4% in the first quarter. Natixis now owns 352,559 shares of the company’s stock worth $27,696,000 after buying an additional 240,411 shares in the last quarter. GW&K Investment Management LLC raised its stake in Kraft Heinz by 0.5% in the second quarter. GW&K Investment Management LLC now owns 308,403 shares of the company’s stock worth $27,287,000 after buying an additional 1,678 shares in the last quarter. State Street Corp raised its stake in Kraft Heinz by 3.4% in the first quarter. State Street Corp now owns 23,843,318 shares of the company’s stock worth $1,873,118,000 after buying an additional 775,834 shares in the last quarter. Finally, Chilton Capital Management LLC raised its stake in Kraft Heinz by 17.8% in the first quarter. Chilton Capital Management LLC now owns 4,194 shares of the company’s stock worth $329,000 after buying an additional 635 shares in the last quarter. 61.40% of the stock is currently owned by institutional investors.
About 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.
To view Vetr’s full report, visit Vetr’s official website.
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