JPMorgan Chase & Co. Cuts Kraft Heinz (NASDAQ:KHC) Price Target to $25.00

by · The Markets Daily

Kraft Heinz (NASDAQ:KHC – Free Report) had its target price cut by JPMorgan Chase & Co. from $27.00 to $25.00 in a research note released on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also weighed in on the stock. TD Cowen decreased their price objective on shares of Kraft Heinz from $28.00 to $26.00 and set a “hold” rating for the company in a report on Thursday. Jefferies Financial Group decreased their price objective on shares of Kraft Heinz from $28.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Kraft Heinz from $28.00 to $27.00 and set a “hold” rating for the company in a report on Monday, October 13th. Evercore ISI decreased their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set an “in-line” rating for the company in a report on Thursday. Finally, Stifel Nicolaus decreased their price objective on shares of Kraft Heinz from $30.00 to $28.00 and set a “hold” rating for the company in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $26.56.

View Our Latest Stock Analysis on Kraft Heinz

Kraft Heinz Stock Performance

Shares of KHC opened at $24.74 on Thursday. The company has a quick ratio of 0.66, a current ratio of 1.13 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average price is $26.06 and its 200-day moving average price is $26.96. Kraft Heinz has a 52 week low of $24.10 and a 52 week high of $34.08. The stock has a market cap of $29.28 billion, a P/E ratio of -6.63, a P/E/G ratio of 2.88 and a beta of 0.16.

Kraft Heinz (NASDAQ:KHC – Get Free Report) last issued its quarterly earnings results on Friday, July 8th. The company reported $0.72 EPS for the quarter. Kraft Heinz had a positive return on equity of 7.26% and a negative net margin of 17.35%.The firm had revenue of $6.39 billion for the quarter. Equities research analysts anticipate that Kraft Heinz will post 2.68 earnings per share for the current fiscal year.

Kraft Heinz Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Friday, November 28th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, November 28th. This represents a $1.60 dividend on an annualized basis and a yield of 6.5%. Kraft Heinz’s payout ratio is currently -42.90%.

Institutional Investors Weigh In On Kraft Heinz

Hedge funds have recently added to or reduced their stakes in the stock. Shell Asset Management Co. grew its position in shares of Kraft Heinz by 89.7% during the 2nd quarter. Shell Asset Management Co. now owns 90,450 shares of the company’s stock valued at $2,335,000 after acquiring an additional 42,758 shares during the period. Lakeshore Capital Group Inc. boosted its holdings in Kraft Heinz by 39.8% in the 2nd quarter. Lakeshore Capital Group Inc. now owns 37,050 shares of the company’s stock worth $957,000 after buying an additional 10,551 shares during the period. Swedbank AB boosted its holdings in Kraft Heinz by 13.6% in the 1st quarter. Swedbank AB now owns 878,684 shares of the company’s stock worth $26,738,000 after buying an additional 104,872 shares during the period. Bard Financial Services Inc. boosted its holdings in Kraft Heinz by 24.5% in the 2nd quarter. Bard Financial Services Inc. now owns 104,225 shares of the company’s stock worth $2,691,000 after buying an additional 20,500 shares during the period. Finally, D.A. Davidson & CO. boosted its holdings in Kraft Heinz by 7.8% in the 1st quarter. D.A. Davidson & CO. now owns 90,252 shares of the company’s stock worth $2,746,000 after buying an additional 6,551 shares during the period. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

About Kraft Heinz

(Get Free Report)

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.

Read More