Vetr Inc. Downgrades Kraft Heinz Co. (KHC) to Buy
Kraft Heinz Co. (NASDAQ:KHC) was downgraded by Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They currently have a $98.22 target price on the stock. Vetr‘s price target would suggest a potential upside of 12.74% from the company’s current price.
KHC has been the subject of several other research reports. Zacks Investment Research raised shares of Kraft Heinz from a “sell” rating to a “buy” rating and set a $99.00 price target for the company in a research report on Monday, August 8th. Goldman Sachs Group Inc. reaffirmed a “conviction-buy” rating and set a $98.00 price objective (up from $93.00) on shares of Kraft Heinz in a research note on Friday, July 15th. Royal Bank Of Canada upped their price objective on shares of Kraft Heinz from $92.00 to $96.00 and gave the stock an “outperform” rating in a research note on Friday, August 5th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $100.00 price objective (up from $98.00) on shares of Kraft Heinz in a research note on Tuesday, August 16th. Finally, Susquehanna reaffirmed a “buy” rating and set a $98.00 price objective on shares of Kraft Heinz in a research note on Sunday, July 17th. Two analysts have rated the stock with a sell rating and fourteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $98.79.
Kraft Heinz (NASDAQ:KHC) opened at 87.12 on Monday. The firm has a 50 day moving average price of $88.58 and a 200 day moving average price of $84.12. The company has a market cap of $106.08 billion, a PE ratio of 63.87 and a beta of 0.47. Kraft Heinz has a 12-month low of $68.18 and a 12-month high of $90.54.
Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.14. Kraft Heinz had a net margin of 6.87% and a return on equity of 5.78%. The firm earned $6.79 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. The company’s quarterly revenue was up 159.7% compared to the same quarter last year. On average, analysts anticipate that Kraft Heinz will post $3.24 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Stockholders of record on Friday, August 26th will be paid a dividend of $0.60 per share. This is a boost from Kraft Heinz’s previous quarterly dividend of $0.58. This represents a $2.40 annualized dividend and a dividend yield of 2.75%. The ex-dividend date of this dividend is Wednesday, August 24th. Kraft Heinz’s dividend payout ratio is 181.82%.
Several hedge funds have recently added to or reduced their stakes in KHC. Enterprise Financial Services Corp boosted its position in shares of Kraft Heinz by 8.5% in the second quarter. Enterprise Financial Services Corp now owns 1,280 shares of the company’s stock worth $113,000 after buying an additional 100 shares during the last quarter. Balentine LLC boosted its position in shares of Kraft Heinz by 43.3% in the first quarter. Balentine LLC now owns 1,605 shares of the company’s stock worth $126,000 after buying an additional 485 shares during the last quarter. Blue Chip Partners Inc. acquired a new position in shares of Kraft Heinz during the second quarter worth about $128,000. Iowa State Bank acquired a new position in shares of Kraft Heinz during the second quarter worth about $129,000. Finally, Quadrant Capital Group LLC boosted its position in shares of Kraft Heinz by 6.1% in the second quarter. Quadrant Capital Group LLC now owns 1,637 shares of the company’s stock worth $135,000 after buying an additional 94 shares during the last quarter. 61.40% of the stock is currently owned by institutional investors and hedge funds.
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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