Kraft Heinz (NASDAQ:KHC) Stock Price Down 4.4% on Analyst Downgrade

Kraft Heinz Co (NASDAQ:KHC) fell 4.4% during trading on Friday after Bank of America lowered their price target on the stock from $39.00 to $32.00. Bank of America currently has a neutral rating on the stock. Kraft Heinz traded as low as $26.05 and last traded at $26.99, 11,197,863 shares were traded during mid-day trading. An increase of 71% from the average session volume of 6,558,931 shares. The stock had previously closed at $28.22.

Several other research analysts have also recently issued reports on KHC. Guggenheim cut Kraft Heinz from a “neutral” rating to a “sell” rating and dropped their target price for the stock from $29.00 to $25.00 in a research report on Friday. Evercore ISI assumed coverage on Kraft Heinz in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $32.00 target price on the stock. Credit Suisse Group reissued a “sell” rating and issued a $26.00 target price on shares of Kraft Heinz in a research report on Tuesday, July 2nd. UBS Group dropped their target price on Kraft Heinz from $39.00 to $35.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 7th. Finally, BidaskClub raised Kraft Heinz from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $38.05.

Several hedge funds have recently bought and sold shares of the company. Meridian Wealth Management LLC purchased a new position in Kraft Heinz in the 1st quarter worth approximately $27,000. Putnam FL Investment Management Co. purchased a new position in Kraft Heinz in the 2nd quarter worth approximately $27,000. Zions Bancorporation N.A. lifted its holdings in Kraft Heinz by 303.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 960 shares of the company’s stock worth $30,000 after purchasing an additional 722 shares in the last quarter. Atlas Capital Advisors LLC purchased a new position in Kraft Heinz in the 2nd quarter worth approximately $31,000. Finally, Horrell Capital Management Inc. purchased a new position in Kraft Heinz in the 2nd quarter worth approximately $31,000. 58.00% of the stock is currently owned by hedge funds and other institutional investors.

The business has a fifty day moving average of $31.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.21 and a quick ratio of 0.85. The firm has a market capitalization of $34.43 billion, a P/E ratio of 7.51, a PEG ratio of 2.76 and a beta of 0.74.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.03. Kraft Heinz had a positive return on equity of 6.89% and a negative net margin of 38.95%. The company had revenue of $5.96 billion for the quarter, compared to analysts’ expectations of $6.07 billion. During the same period in the previous year, the firm earned $0.90 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. On average, research analysts expect that Kraft Heinz Co will post 2.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 21st will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 6.04%. The ex-dividend date of this dividend is Tuesday, August 20th. Kraft Heinz’s payout ratio is 45.33%.

Kraft Heinz Company Profile (NASDAQ:KHC)

The Kraft Heinz Company manufactures and markets food and beverage products in the United States, Canada, Europe, and internationally. Its products include condiments and sauces, cheese and dairy products, meals, meats, refreshment beverages, coffee, and other grocery products. The company offers its products under the Kraft, Oscar Mayer, Heinz, Philadelphia, Lunchables, Velveeta, Planters, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Jell-O, Cracker Barrel, P'Tit Cheese, Tassimo, Classico, Plasmon, Pudliszki, Honig, HP, Benedicta, ABC, Master, Quero, Golden Circle, Wattie's, Glucon D, and Complan names.

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