Brokerages Set The Kraft Heinz Company (NASDAQ:KHC) Target Price at $30.73

Shares of The Kraft Heinz Company (NASDAQ:KHC) have earned an average recommendation of “Reduce” from the fifteen research firms that are covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell recommendation and eleven have given a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $30.67.

Several equities research analysts have weighed in on KHC shares. The Goldman Sachs Group cut their price target on Kraft Heinz from $32.00 to $28.00 and set a “sell” rating on the stock in a report on Thursday, February 13th. UBS Group cut their target price on shares of Kraft Heinz from $37.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Piper Sandler decreased their price target on shares of Kraft Heinz from $35.00 to $31.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. JPMorgan Chase & Co. dropped their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “neutral” rating on the stock in a research report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Kraft Heinz from $32.00 to $31.00 and set a “hold” rating for the company in a research report on Thursday, February 13th.

Kraft Heinz Stock Down 3.7 %

Shares of KHC opened at $29.68 on Friday. The company’s 50-day simple moving average is $30.09 and its 200-day simple moving average is $31.51. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.59 and a current ratio of 1.06. Kraft Heinz has a 1 year low of $27.25 and a 1 year high of $38.96. The stock has a market capitalization of $35.42 billion, a PE ratio of 13.13, a P/E/G ratio of 3.39 and a beta of 0.44.

Kraft Heinz (NASDAQ:KHC) last released its earnings results on Wednesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Kraft Heinz had a net margin of 10.62% and a return on equity of 7.58%. Analysts forecast that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 7th were paid a dividend of $0.40 per share. The ex-dividend date was Friday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 5.39%. Kraft Heinz’s dividend payout ratio is presently 70.80%.

Institutional Investors Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sawyer & Company Inc purchased a new stake in shares of Kraft Heinz in the fourth quarter valued at about $25,000. Generali Investments Management Co LLC acquired a new position in Kraft Heinz in the 4th quarter valued at about $26,000. Mountain Hill Investment Partners Corp. purchased a new stake in Kraft Heinz during the 4th quarter valued at approximately $29,000. R Squared Ltd acquired a new stake in Kraft Heinz during the 4th quarter worth approximately $34,000. Finally, OFI Invest Asset Management purchased a new position in shares of Kraft Heinz in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 78.17% of the company’s stock.

About Kraft Heinz

The Kraft Heinz Company, together with its subsidiaries, manufactures and markets food and beverage products in North America and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Ore-Ida, Maxwell House, Kool-Aid, Jell-O, Heinz, ABC, Master, Quero, Kraft, Golden Circle, Wattie's, Pudliszki, and Plasmon brands.