Kraft Heinz (NASDAQ:KHC) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

Kraft Heinz (NASDAQ:KHC) had its price objective reduced by The Goldman Sachs Group from $27.00 to $25.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a sell rating on the stock.

Other equities analysts also recently issued research reports about the stock. Bank of America downgraded shares of Kraft Heinz from a “buy” rating to an “underperform” rating and reduced their price target for the company from $36.00 to $30.00 in a report on Thursday, February 13th. Wall Street Zen upgraded Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Wednesday, March 12th. DZ Bank downgraded shares of Kraft Heinz from a “buy” rating to a “hold” rating and set a $31.00 target price on the stock. in a report on Friday, May 9th. Wells Fargo & Company cut their target price on Kraft Heinz from $31.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. Finally, Morgan Stanley started coverage on shares of Kraft Heinz in a research report on Monday, March 24th. They issued an “underweight” rating and a $29.00 price target for the company. Four analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $30.35.

Kraft Heinz Trading Down 0.6%

KHC opened at $26.42 on Monday. The stock has a market capitalization of $31.27 billion, a PE ratio of 11.69, a P/E/G ratio of 3.39 and a beta of 0.27. The firm’s fifty day moving average price is $28.04 and its 200 day moving average price is $29.50. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.06 and a quick ratio of 0.59. Kraft Heinz has a 12-month low of $26.01 and a 12-month high of $36.53.

Kraft Heinz (NASDAQ:KHC) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02. Kraft Heinz had a return on equity of 7.58% and a net margin of 10.62%. The firm had revenue of $6 billion for the quarter, compared to analysts’ expectations of $6.02 billion. During the same period last year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. As a group, research analysts expect that Kraft Heinz will post 2.68 EPS for the current fiscal year.

Kraft Heinz Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, May 30th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 6.06%. The ex-dividend date of this dividend is Friday, May 30th. Kraft Heinz’s payout ratio is 73.06%.

Institutional Investors Weigh In On Kraft Heinz

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Headlands Technologies LLC bought a new position in Kraft Heinz during the fourth quarter valued at about $2,048,000. Versant Capital Management Inc increased its holdings in shares of Kraft Heinz by 493.4% during the first quarter. Versant Capital Management Inc now owns 12,354 shares of the company’s stock worth $376,000 after buying an additional 10,272 shares in the last quarter. Banque Pictet & Cie SA raised its position in Kraft Heinz by 10.8% in the 4th quarter. Banque Pictet & Cie SA now owns 90,000 shares of the company’s stock valued at $2,764,000 after purchasing an additional 8,787 shares during the last quarter. Americana Partners LLC acquired a new position in Kraft Heinz during the 4th quarter worth about $7,005,000. Finally, Van ECK Associates Corp lifted its stake in shares of Kraft Heinz by 2.2% during the fourth quarter. Van ECK Associates Corp now owns 125,388 shares of the company’s stock valued at $3,850,000 after acquiring an additional 2,727 shares during the period. 78.17% of the stock is owned by institutional investors and hedge funds.

Kraft Heinz Company Profile

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.