BidaskClub upgraded shares of Kraft Heinz (NASDAQ:KHC) from a sell rating to a hold rating in a research report released on Thursday, BidAskClub reports.

Other equities research analysts have also issued reports about the stock. Barclays set a $30.00 target price on shares of Kraft Heinz and gave the company a hold rating in a research note on Friday, August 9th. Piper Jaffray Companies set a $26.00 target price on shares of Kraft Heinz and gave the company a hold rating in a research note on Wednesday, September 4th. Bank of America set a $32.00 target price on shares of Kraft Heinz and gave the company a neutral rating in a research note on Friday, August 9th. Guggenheim set a $25.00 target price on shares of Kraft Heinz and gave the company a sell rating in a research note on Monday, August 26th. Finally, Morgan Stanley decreased their target price on shares of Kraft Heinz from $32.00 to $29.00 and set an equal weight rating for the company in a research note on Tuesday, September 3rd. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and two have assigned a buy rating to the stock. Kraft Heinz currently has a consensus rating of Hold and an average target price of $36.05.

KHC traded up $0.22 during mid-day trading on Thursday, reaching $29.25. 3,438,291 shares of the company traded hands, compared to its average volume of 7,514,371. The stock has a market capitalization of $35.68 billion, a P/E ratio of 8.29, a P/E/G ratio of 2.42 and a beta of 0.77. The company has a quick ratio of 0.78, a current ratio of 1.18 and a debt-to-equity ratio of 0.58. The company’s fifty day moving average price is $27.81 and its 200-day moving average price is $30.73. Kraft Heinz has a 52-week low of $24.86 and a 52-week high of $59.91.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Thursday, August 8th. The company reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.03. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $6.07 billion. Kraft Heinz had a negative net margin of 43.40% and a positive return on equity of 6.06%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. As a group, sell-side analysts forecast that Kraft Heinz will post 2.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 21st will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 5.47%. The ex-dividend date is Tuesday, August 20th. Kraft Heinz’s dividend payout ratio is currently 45.33%.

A number of institutional investors have recently modified their holdings of KHC. AGF Investments America Inc. increased its position in shares of Kraft Heinz by 1.8% during the second quarter. AGF Investments America Inc. now owns 19,364 shares of the company’s stock worth $601,000 after acquiring an additional 350 shares during the period. Investment Management of Virginia LLC boosted its stake in shares of Kraft Heinz by 5.3% during the second quarter. Investment Management of Virginia LLC now owns 7,006 shares of the company’s stock valued at $217,000 after purchasing an additional 350 shares in the last quarter. Close Asset Management Ltd boosted its stake in shares of Kraft Heinz by 6.4% during the second quarter. Close Asset Management Ltd now owns 6,003 shares of the company’s stock valued at $186,000 after purchasing an additional 360 shares in the last quarter. Weik Capital Management boosted its stake in shares of Kraft Heinz by 4.9% during the first quarter. Weik Capital Management now owns 7,778 shares of the company’s stock valued at $254,000 after purchasing an additional 365 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Kraft Heinz by 51.2% during the second quarter. Parkside Financial Bank & Trust now owns 1,107 shares of the company’s stock valued at $35,000 after purchasing an additional 375 shares in the last quarter. 56.61% of the stock is owned by institutional investors.

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.

Further Reading: What is diluted earnings per share (Diluted EPS)?

Analyst Recommendations for Kraft Heinz (NASDAQ:KHC)

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