Kraft Heinz Company (NASDAQ:KHC) Stock to Pay Quarterly Dividend of $0.40

Kraft Heinz Company (NASDAQ:KHC) announced a quarterly dividend on Wednesday, November 4th. Stockholders of record on Friday, December 4th will be given a dividend of $0.40 per share on Wednesday, December 23rd. This represents a $1.60 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend is Friday, December 4th.

Kraft Heinz has a payout ratio of 59.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Kraft Heinz to earn $2.14 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 74.8%.

Kraft Heinz Stock Performance

Shares of Kraft Heinz stock traded up $0.94 during midday trading on Wednesday, hitting $25.46. The company had a trading volume of 25,267,618 shares, compared to its average volume of 15,763,997. The business’s 50 day simple moving average is $24.00 and its two-hundred day simple moving average is $23.90. The stock has a market cap of $30.19 billion, a PE ratio of -8.90, a P/E/G ratio of 2.99 and a beta of 0.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.06 and a quick ratio of 0.68. Kraft Heinz has a 1-year low of $21.03 and a 1-year high of $28.09.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, November 4th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.11. Kraft Heinz had a negative net margin of 13.64% and a positive return on equity of 7.10%. Kraft Heinz’s revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the company earned $0.61 EPS. As a group, equities analysts predict that Kraft Heinz will post 2.06 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on KHC shares. TD Cowen restated a “hold” rating and issued a $22.00 price target on shares of Kraft Heinz in a research report on Tuesday, September 22nd. Barclays cut their price objective on shares of Kraft Heinz from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, October 16th. Jefferies Financial Group reiterated a “hold” rating and issued a $21.00 target price on shares of Kraft Heinz in a research note on Wednesday, October 14th. Piper Sandler lifted their target price on Kraft Heinz from $24.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Finally, Evercore set a $24.00 price target on Kraft Heinz in a research note on Thursday, August 6th. One analyst has rated the stock with a Buy rating, ten have issued a Hold rating and five have assigned a Sell rating to the company. According to MarketBeat.com, Kraft Heinz currently has a consensus rating of “Reduce” and a consensus price target of $23.60.

Kraft Heinz Company Profile

The Kraft Heinz Company (NASDAQ: KHC) is a global food and beverage company that develops, manufactures and markets branded products for consumers, retailers and foodservice customers. Its portfolio includes condiments and sauces, cheese and dairy products, meals, meats, snacks, beverages and desserts.

The company’s brands include Kraft, Heinz, Oscar Mayer, Philadelphia, Velveeta, Jell-O, Maxwell House, Lunchables, Capri Sun, Planters and Classico, among others. Products are sold through grocery stores, mass merchants, club stores, convenience retailers, e-commerce channels and foodservice distributors.

Kraft Heinz was created in 2015 through the merger of Kraft Foods Group and H.J.