Bank of America Raises Kraft Heinz (NASDAQ:KHC) Price Target to $42.00

Kraft Heinz (NASDAQ:KHC) had its target price upped by Bank of America from $40.00 to $42.00 in a research report released on Monday morning, Benzinga reports. Bank of America currently has a buy rating on the stock.

KHC has been the topic of a number of other research reports. Citigroup assumed coverage on Kraft Heinz in a research note on Thursday, February 1st. They set a buy rating and a $43.00 price objective on the stock. Wells Fargo & Company decreased their price target on Kraft Heinz from $38.00 to $37.00 and set an equal weight rating on the stock in a research note on Thursday, February 15th. Seven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $40.71.

Kraft Heinz Price Performance

Kraft Heinz stock opened at $36.90 on Monday. The stock’s fifty day moving average price is $35.86 and its two-hundred day moving average price is $35.34. Kraft Heinz has a one year low of $30.68 and a one year high of $41.47. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.54. The firm has a market cap of $44.86 billion, a PE ratio of 15.97, a price-to-earnings-growth ratio of 2.87 and a beta of 0.67.

Kraft Heinz (NASDAQ:KHC) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.01. Kraft Heinz had a return on equity of 7.42% and a net margin of 10.72%. The firm had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.99 billion. During the same quarter last year, the company earned $0.85 EPS. The company’s revenue was down 7.1% on a year-over-year basis. As a group, research analysts expect that Kraft Heinz will post 3.02 EPS for the current fiscal year.

Kraft Heinz Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 8th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $1.60 dividend on an annualized basis and a yield of 4.34%. Kraft Heinz’s dividend payout ratio is currently 69.26%.

Institutional Investors Weigh In On Kraft Heinz

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FSC Wealth Advisors LLC raised its stake in shares of Kraft Heinz by 23.4% in the fourth quarter. FSC Wealth Advisors LLC now owns 1,424 shares of the company’s stock worth $53,000 after purchasing an additional 270 shares during the last quarter. Ancora Advisors LLC increased its position in shares of Kraft Heinz by 69.9% during the first quarter. Ancora Advisors LLC now owns 661 shares of the company’s stock valued at $26,000 after acquiring an additional 272 shares during the last quarter. Welch Group LLC increased its position in shares of Kraft Heinz by 1.9% during the first quarter. Welch Group LLC now owns 14,868 shares of the company’s stock valued at $549,000 after acquiring an additional 272 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of Kraft Heinz by 13.2% during the first quarter. Massmutual Trust Co. FSB ADV now owns 2,423 shares of the company’s stock valued at $89,000 after acquiring an additional 282 shares during the last quarter. Finally, Archer Investment Corp increased its position in shares of Kraft Heinz by 2.0% during the fourth quarter. Archer Investment Corp now owns 14,709 shares of the company’s stock valued at $544,000 after acquiring an additional 294 shares during the last quarter. Institutional investors own 78.17% of the company’s stock.

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.