BidaskClub downgraded shares of Kraft Heinz (NASDAQ:KHC) from a hold rating to a sell rating in a research report sent to investors on Friday.

A number of other analysts also recently issued reports on KHC. Morgan Stanley started coverage on shares of Kraft Heinz in a report on Monday, September 17th. They issued an underweight rating and a $52.00 price objective for the company. Zacks Investment Research downgraded shares of Kraft Heinz from a hold rating to a sell rating in a report on Tuesday, July 3rd. Jefferies Financial Group reissued a buy rating and issued a $75.00 price objective on shares of Kraft Heinz in a report on Tuesday, August 7th. Finally, Bank of America set a $85.00 price objective on shares of Kraft Heinz and gave the company a buy rating in a report on Monday, August 6th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $73.14.

Shares of KHC stock opened at $57.12 on Friday. The stock has a market cap of $69.64 billion, a P/E ratio of 16.09, a P/E/G ratio of 1.95 and a beta of 0.50. The company has a quick ratio of 0.70, a current ratio of 1.05 and a debt-to-equity ratio of 0.48. Kraft Heinz has a 52 week low of $54.11 and a 52 week high of $82.48.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Friday, August 3rd. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.92 by $0.08. The business had revenue of $6.69 billion during the quarter, compared to the consensus estimate of $6.57 billion. Kraft Heinz had a net margin of 40.85% and a return on equity of 6.16%. Kraft Heinz’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.98 EPS. research analysts forecast that Kraft Heinz will post 3.71 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 17th were given a $0.625 dividend. This represents a $2.50 annualized dividend and a dividend yield of 4.38%. The ex-dividend date of this dividend was Thursday, August 16th. Kraft Heinz’s payout ratio is presently 70.42%.

In other news, major shareholder Global Food Holdings Lp 3G sold 20,630,314 shares of the business’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $59.85, for a total value of $1,234,724,292.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Eduardo Pelleissone sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, August 6th. The stock was sold at an average price of $63.85, for a total transaction of $2,234,750.00. The disclosure for this sale can be found here. 26.81% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. Magellan Asset Management Ltd increased its position in Kraft Heinz by 39.6% during the 2nd quarter. Magellan Asset Management Ltd now owns 33,621,370 shares of the company’s stock worth $2,112,094,000 after purchasing an additional 9,529,235 shares in the last quarter. FMR LLC increased its position in Kraft Heinz by 34.4% during the 2nd quarter. FMR LLC now owns 8,254,817 shares of the company’s stock worth $518,567,000 after purchasing an additional 2,111,198 shares in the last quarter. Northern Trust Corp increased its position in Kraft Heinz by 3.3% during the 2nd quarter. Northern Trust Corp now owns 7,204,595 shares of the company’s stock worth $452,592,000 after purchasing an additional 230,493 shares in the last quarter. Federated Investors Inc. PA increased its position in Kraft Heinz by 39,913.8% during the 2nd quarter. Federated Investors Inc. PA now owns 3,407,179 shares of the company’s stock worth $214,038,000 after purchasing an additional 3,398,664 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Kraft Heinz by 3.4% during the 2nd quarter. Legal & General Group Plc now owns 2,891,188 shares of the company’s stock worth $181,612,000 after purchasing an additional 93,997 shares in the last quarter. Institutional investors and hedge funds own 62.82% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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