TD Cowen Has Lowered Expectations for Kraft Heinz (NASDAQ:KHC) Stock Price

Kraft Heinz (NASDAQ:KHC) had its price objective decreased by TD Cowen from $34.00 to $32.00 in a research report sent to investors on Wednesday morning,Benzinga reports. TD Cowen currently has a hold rating on the stock.

KHC has been the topic of several other reports. The Goldman Sachs Group lowered their target price on Kraft Heinz from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Thursday, October 31st. Citigroup cut their price objective on Kraft Heinz from $39.00 to $38.00 and set a “buy” rating for the company in a research note on Thursday, October 31st. Mizuho reduced their target price on shares of Kraft Heinz from $43.00 to $41.00 and set an “outperform” rating for the company in a report on Thursday, October 31st. Stifel Nicolaus downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and lowered their price target for the company from $40.00 to $38.00 in a report on Friday, October 25th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $35.00 price target (down from $40.00) on shares of Kraft Heinz in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $35.58.

Kraft Heinz Price Performance

NASDAQ KHC opened at $28.51 on Wednesday. The company has a 50-day moving average price of $31.23 and a 200-day moving average price of $33.32. Kraft Heinz has a 52 week low of $28.50 and a 52 week high of $38.96. The company has a quick ratio of 0.56, a current ratio of 1.06 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $34.47 billion, a P/E ratio of 25.68, a PEG ratio of 3.62 and a beta of 0.48.

Kraft Heinz (NASDAQ:KHC) last announced its earnings results on Wednesday, October 30th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.01. The business had revenue of $6.38 billion during the quarter, compared to analysts’ expectations of $6.42 billion. Kraft Heinz had a net margin of 5.24% and a return on equity of 7.46%. The firm’s revenue was down 2.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.72 earnings per share. Equities research analysts anticipate that Kraft Heinz will post 3.01 earnings per share for the current year.

Kraft Heinz Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Friday, November 29th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $1.60 annualized dividend and a yield of 5.61%. Kraft Heinz’s payout ratio is 144.14%.

Insider Buying and Selling at Kraft Heinz

In related news, EVP Pedro F. P. Navio sold 45,000 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $33.45, for a total transaction of $1,505,250.00. Following the sale, the executive vice president now owns 168,195 shares of the company’s stock, valued at $5,626,122.75. This represents a 21.11 % 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. Insiders own 0.32% of the company’s stock.

Hedge Funds Weigh In On Kraft Heinz

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hotchkis & Wiley Capital Management LLC purchased a new position in Kraft Heinz in the third quarter worth about $411,304,000. State Street Corp lifted its stake in shares of Kraft Heinz by 16.7% in the 3rd quarter. State Street Corp now owns 44,400,402 shares of the company’s stock valued at $1,558,898,000 after purchasing an additional 6,366,732 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Kraft Heinz by 11.3% in the 3rd quarter. Geode Capital Management LLC now owns 19,150,328 shares of the company’s stock worth $669,821,000 after purchasing an additional 1,944,019 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Kraft Heinz by 47.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,536,214 shares of the company’s stock valued at $178,379,000 after purchasing an additional 1,778,263 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Kraft Heinz by 16.3% during the 4th quarter. Nordea Investment Management AB now owns 8,813,268 shares of the company’s stock valued at $269,906,000 after purchasing an additional 1,238,200 shares during the last quarter. 78.17% of the stock is owned by hedge funds and other 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.