Wells Fargo & Company Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $27.00

Kraft Heinz (NASDAQ:KHC) had its target price trimmed by Wells Fargo & Company from $29.00 to $27.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other analysts have also recently weighed in on the company. JPMorgan Chase & Co. initiated coverage on Kraft Heinz in a research report on Wednesday, August 20th. They issued a “neutral” rating and a $27.00 price target on the stock. The Goldman Sachs Group raised Kraft Heinz from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $25.00 to $27.00 in a research note on Wednesday, June 25th. Mizuho set a $29.00 price objective on Kraft Heinz and gave the stock a “neutral” rating in a research note on Wednesday, May 28th. DZ Bank lowered Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 price objective on the stock. in a research note on Friday, May 9th. Finally, Hsbc Global Res raised Kraft Heinz to a “hold” rating in a research note on Friday, August 1st. Seventeen investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of $29.76.

Kraft Heinz Stock Performance

Shares of NASDAQ:KHC opened at $27.29 on Wednesday. The business’s fifty day moving average price is $27.46 and its two-hundred day moving average price is $28.22. Kraft Heinz has a fifty-two week low of $25.44 and a fifty-two week high of $36.31. The stock has a market capitalization of $32.30 billion, a price-to-earnings ratio of -6.08, a price-to-earnings-growth ratio of 3.14 and a beta of 0.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.07 and a quick ratio of 0.66.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.05. Kraft Heinz had a positive return on equity of 7.40% and a negative net margin of 20.83%.The firm had revenue of $6.35 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period in the prior year, the business posted $0.78 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. Kraft Heinz has set its FY 2025 guidance at 2.510-2.670 EPS. As a group, analysts predict that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 5.9%. The ex-dividend date is Friday, August 29th. Kraft Heinz’s dividend payout ratio (DPR) is currently -35.63%.

Insiders Place Their Bets

In other Kraft Heinz news, Director Elio Leoni Sceti sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $27.91, for a total value of $697,750.00. Following the completion of the transaction, the director directly owned 40,000 shares in the company, valued at $1,116,400. This trade represents a 38.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KHC. Rossby Financial LCC bought a new position in Kraft Heinz in the first quarter valued at approximately $29,000. Rakuten Securities Inc. lifted its position in shares of Kraft Heinz by 172.4% in the second quarter. Rakuten Securities Inc. now owns 1,245 shares of the company’s stock valued at $32,000 after buying an additional 788 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Kraft Heinz in the first quarter valued at approximately $33,000. Cape Investment Advisory Inc. lifted its position in shares of Kraft Heinz by 164.7% in the second quarter. Cape Investment Advisory Inc. now owns 1,297 shares of the company’s stock valued at $33,000 after buying an additional 807 shares during the last quarter. Finally, Investment Management Corp VA ADV lifted its position in shares of Kraft Heinz by 141.7% in the first quarter. Investment Management Corp VA ADV now owns 1,141 shares of the company’s stock valued at $35,000 after buying an additional 669 shares during the last quarter. 78.17% of the stock is currently owned by institutional investors.

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.