The Kraft Heinz Company (KHC) Rating Reiterated by Credit Suisse Group
Credit Suisse Group reiterated their outperform rating on shares of The Kraft Heinz Company (NASDAQ:KHC) in a report issued on Thursday morning. The brokerage currently has a $90.00 price objective on the stock, down from their previous price objective of $100.00.
Other analysts have also recently issued reports about the company. Morgan Stanley decreased their target price on The Kraft Heinz from $95.00 to $92.00 and set an overweight rating for the company in a research report on Friday, October 13th. Stifel Nicolaus reissued a buy rating and issued a $95.00 target price on shares of The Kraft Heinz in a research report on Thursday, September 21st. BidaskClub cut The Kraft Heinz from a sell rating to a strong sell rating in a research report on Wednesday, July 5th. BMO Capital Markets reissued a hold rating and issued a $96.00 target price on shares of The Kraft Heinz in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised The Kraft Heinz from a sell rating to a hold rating in a research report on Monday, August 21st. One analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $92.49.
The Kraft Heinz (NASDAQ KHC) traded down $1.19 during mid-day trading on Thursday, hitting $76.81. The company had a trading volume of 1,743,106 shares, compared to its average volume of 3,826,891. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.77 and a quick ratio of 0.43. The stock has a market cap of $95,023.58, a P/E ratio of 21.91, a PEG ratio of 1.99 and a beta of 0.43. The Kraft Heinz has a 52-week low of $75.21 and a 52-week high of $97.77.
The Kraft Heinz (NASDAQ:KHC) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $0.83 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.83. The Kraft Heinz had a return on equity of 7.49% and a net margin of 15.03%. The company had revenue of $6.31 billion for the quarter, compared to the consensus estimate of $6.33 billion. During the same quarter in the prior year, the business earned $0.83 EPS. The Kraft Heinz’s revenue was up .7% on a year-over-year basis. sell-side analysts expect that The Kraft Heinz will post 3.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, November 17th will be issued a dividend of $0.625 per share. This represents a $2.50 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Thursday, November 16th. The Kraft Heinz’s dividend payout ratio (DPR) is 77.88%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Blue Chip Partners Inc. raised its position in shares of The Kraft Heinz by 0.5% during the second quarter. Blue Chip Partners Inc. now owns 1,484 shares of the company’s stock valued at $127,000 after buying an additional 8 shares during the last quarter. Martingale Asset Management L P raised its position in The Kraft Heinz by 0.5% in the second quarter. Martingale Asset Management L P now owns 2,724 shares of the company’s stock worth $234,000 after purchasing an additional 13 shares in the last quarter. Guardian Life Insurance Co. of America raised its position in The Kraft Heinz by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 2,301 shares of the company’s stock worth $209,000 after purchasing an additional 16 shares in the last quarter. Ropes Wealth Advisors LLC raised its position in The Kraft Heinz by 0.4% in the second quarter. Ropes Wealth Advisors LLC now owns 3,841 shares of the company’s stock worth $329,000 after purchasing an additional 17 shares in the last quarter. Finally, National Asset Management Inc. raised its position in The Kraft Heinz by 0.5% in the first quarter. National Asset Management Inc. now owns 4,477 shares of the company’s stock worth $408,000 after purchasing an additional 21 shares in the last quarter. 61.69% of the stock is owned by institutional investors and hedge funds.
The Kraft Heinz Company Profile
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.
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